MEG Energy Corp. (TSE:MEG) Given Average Rating of “Moderate Buy” by Analysts

MEG Energy Corp. (TSE:MEG) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$32.00.

Several analysts have commented on the stock. Desjardins raised shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. BMO Capital Markets reduced their target price on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. National Bankshares lifted their price target on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a report on Thursday. Royal Bank of Canada cut their price objective on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, TD Securities boosted their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Insider Transactions at MEG Energy

In related news, Director Robert Ross Rooney acquired 8,500 shares of MEG Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, for a total transaction of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was bought at an average cost of C$25.06 per share, for a total transaction of C$87,713.85. In the last three months, insiders have acquired 12,805 shares of company stock worth $303,669. 0.33% of the stock is currently owned by insiders.

MEG Energy Trading Down 0.5 %

TSE:MEG opened at C$23.83 on Friday. The company has a market capitalization of C$6.42 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy has a 52-week low of C$22.02 and a 52-week high of C$33.70. The stock has a fifty day simple moving average of C$23.91 and a 200-day simple moving average of C$25.58. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35.

MEG Energy (TSE:MEG) last announced its earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. On average, equities research analysts expect that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 1.68%. MEG Energy’s payout ratio is 19.05%.

About MEG Energy

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.