MEG Energy Corp. (TSE:MEG) Receives C$32.00 Average PT from Analysts

Shares of MEG Energy Corp. (TSE:MEG) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$32.00.

Several analysts have recently weighed in on MEG shares. National Bankshares lifted their price target on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. TD Securities upped their target price on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Desjardins raised MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th. ATB Capital decreased their price objective on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Finally, Royal Bank of Canada lowered their price objective on shares of MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th.

MEG Energy Trading Up 0.1 %

Shares of MEG opened at C$22.57 on Wednesday. The firm has a market capitalization of C$5.85 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. MEG Energy has a 1-year low of C$21.89 and a 1-year high of C$33.70. The company has a 50-day moving average of C$23.55 and a 200 day moving average of C$25.07.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 1.77%. MEG Energy’s dividend payout ratio is presently 21.19%.

Insiders Place Their Bets

In other MEG Energy news, Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of the company’s stock in a transaction dated Thursday, November 28th. The shares were acquired at an average price of C$25.06 per share, for a total transaction of C$87,713.85. Also, Director Robert Ross Rooney bought 8,500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of C$23.06 per share, for a total transaction of C$195,993.00. Insiders acquired a total of 12,805 shares of company stock worth $303,669 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.