MEG Energy Corp. (TSE:MEG) Receives C$29.05 Average Price Target from Brokerages

MEG Energy Corp. (TSE:MEGGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$29.05.

A number of equities research analysts have weighed in on the stock. TD Securities decreased their target price on shares of MEG Energy from C$31.00 to C$30.00 and set a “hold” rating for the company in a research note on Tuesday, November 28th. CIBC reduced their price objective on MEG Energy from C$27.00 to C$26.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. JPMorgan Chase & Co. lowered MEG Energy from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from C$31.00 to C$33.00 in a research note on Friday, December 8th. Royal Bank of Canada upped their price objective on MEG Energy from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, ATB Capital upped their price objective on MEG Energy from C$31.50 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th.

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MEG Energy Price Performance

Shares of TSE MEG opened at C$24.34 on Friday. The firm has a market cap of C$6.85 billion, a P/E ratio of 11.32, a PEG ratio of 0.17 and a beta of 2.76. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 33.51. The company has a 50 day moving average of C$24.01 and a 200 day moving average of C$24.99. MEG Energy has a twelve month low of C$17.79 and a twelve month high of C$28.42.

About MEG Energy

(Get Free Report

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production 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.

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