MEG Energy Corp. (TSE:MEG) Receives C$32.00 Consensus PT from Brokerages

Shares of MEG Energy Corp. (TSE:MEG) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$32.00.

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

MEG Energy Price Performance

Shares of TSE MEG opened at C$22.66 on Wednesday. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm’s 50-day simple moving average is C$23.57 and its 200 day simple moving average is C$25.10. The stock has a market cap of C$5.87 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.17 and a beta of 2.89. MEG Energy has a fifty-two week low of C$22.02 and a fifty-two week high of C$33.70.

MEG Energy Announces Dividend

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

Insider Activity

In related news, Director Robert Ross Rooney bought 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of C$23.06 per share, for a total transaction of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of the stock in a transaction on Thursday, November 28th. The shares were purchased at an average price of C$25.06 per share, for a total transaction of C$87,713.85. Insiders have purchased a total of 12,805 shares of company stock worth $303,669 over the last ninety days. Company 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.