MEG Energy (TSE:MEG) PT Raised to C$32.00

MEG Energy (TSE:MEG) had its price target boosted by research analysts at TD Securities from C$31.00 to C$32.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective would suggest a potential upside of 0.82% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group boosted their price target on MEG Energy from C$28.00 to C$35.00 and gave the company a “hold” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. ATB Capital lifted their price objective on shares of MEG Energy from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada increased their target price on shares of MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. Finally, Desjardins boosted their price target on MEG Energy from C$30.00 to C$31.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$33.09.

MEG Energy Stock Up 0.5 %

MEG Energy stock opened at C$31.74 on Tuesday. The firm’s 50 day moving average price is C$31.00 and its two-hundred day moving average price is C$27.18. The firm has a market cap of C$8.64 billion, a PE ratio of 16.03, a P/E/G ratio of 0.17 and a beta of 3.16. MEG Energy has a twelve month low of C$19.41 and a twelve month high of C$33.70. The company has a debt-to-equity ratio of 30.55, a quick ratio of 1.17 and a current ratio of 1.48.

MEG Energy (TSE:MEG) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.59 by C($0.22). MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.40 billion. On average, research analysts predict that MEG Energy will post 2.3198041 EPS for the current fiscal year.

Insider Transactions at MEG Energy

In related news, Director Derek Watson Evans sold 234,562 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. In other news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. Insiders sold a total of 301,679 shares of company stock worth $8,825,336 over the last three months. 0.63% of the stock is currently owned by insiders.

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.