MEG Energy (TSE:MEG) Given New C$34.00 Price Target at BMO Capital Markets

MEG Energy (TSE:MEGFree Report) had its price objective trimmed by BMO Capital Markets from C$37.00 to C$34.00 in a research note published on Friday, BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group reduced their price objective on MEG Energy from C$32.00 to C$26.00 and set a hold rating for the company in a research report on Monday, September 16th. Scotiabank upgraded shares of MEG Energy from a sector perform rating to an outperform rating and set a C$35.00 price target on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada cut their price objective on shares of MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. National Bankshares decreased their target price on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, TD Securities upgraded MEG Energy from a hold rating to a strong-buy rating in a research note on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MEG Energy has a consensus rating of Moderate Buy and an average target price of C$32.27.

Check Out Our Latest Research Report on MEG

MEG Energy Stock Up 1.5 %

MEG Energy stock opened at C$28.10 on Friday. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17. MEG Energy has a fifty-two week low of C$22.79 and a fifty-two week high of C$33.70. The firm has a fifty day moving average price of C$26.37 and a two-hundred day moving average price of C$28.72. The firm has a market cap of C$7.57 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.17 and a beta of 2.89.

MEG Energy (TSE:MEGGet Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, topping the consensus estimate of C$0.69 by C$0.17. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The business had revenue of C$2.74 billion during the quarter, compared to analysts’ expectations of C$1.28 billion. As a group, analysts forecast that MEG Energy will post 2.2734628 earnings per share for the current year.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, September 17th. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Insiders Place Their Bets

In other news, Director Michael Mcallister bought 7,400 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of C$25.67 per share, with a total value of C$189,986.86. In other news, Director Michael Mcallister bought 7,400 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Also, Director James D. Mcfarland purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Corporate insiders own 0.33% of the company’s stock.

About MEG Energy

(Get Free Report)

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.

Read More

Analyst Recommendations for MEG Energy (TSE:MEG)

Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.