MEG Energy Corp. (TSE:MEG) Receives Average Rating of “Moderate Buy” from Brokerages

MEG Energy Corp. (TSE:MEG) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Five equities research 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 brokers that have issued ratings on the stock in the last year is C$32.27.

MEG has been the subject of several recent research reports. ATB Capital decreased their price objective on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. TD Securities raised their target price on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets cut their target price on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada cut their target price on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th.

Insider Activity

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

MEG Energy Trading Up 3.6 %

Shares of MEG opened at C$24.20 on Friday. The business has a 50-day moving average of C$24.05 and a 200 day moving average of C$25.66. MEG Energy has a fifty-two week low of C$22.02 and a fifty-two week high of C$33.70. The firm has a market cap of C$6.52 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54.

MEG Energy (TSE:MEG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The firm had revenue of C$1.27 billion during the quarter, compared to analysts’ expectations of C$1.33 billion. As a group, research analysts forecast that MEG Energy will post 2.2734628 EPS for the current year.

MEG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, December 16th. MEG Energy’s payout ratio is currently 19.05%.

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.