MEG Energy (TSE:MEG) PT Lowered to C$31.00

MEG Energy (TSE:MEG) had its price target trimmed by National Bankshares from C$35.00 to C$31.00 in a research report sent to investors on Friday, BayStreet.CA reports.

MEG has been the topic of several other reports. Scotiabank upgraded MEG Energy from a sector perform rating to an outperform rating and set a C$35.00 price objective on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada reduced their price target on MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. Jefferies Financial Group lowered 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. Finally, TD Securities raised shares of MEG Energy from a hold rating to a strong-buy rating in a report on Friday, June 7th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MEG Energy currently has an average rating of Moderate Buy and a consensus target price of C$32.55.

MEG Energy Stock Performance

Shares of MEG stock opened at C$25.41 on Friday. MEG Energy has a one year low of C$22.79 and a one year high of C$33.70. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. The firm’s 50 day moving average price is C$26.46 and its 200-day moving average price is C$28.86. The firm has a market cap of C$6.85 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.17 and a beta of 2.92.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Thursday, July 25th. The company reported C$0.86 earnings per share (EPS) for the quarter, beating 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 firm had revenue of C$2.74 billion for the quarter, compared to the consensus estimate of C$1.28 billion. As a group, equities research analysts predict that MEG Energy will post 2.2403101 EPS for the current year.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, September 17th. MEG Energy’s dividend payout ratio (DPR) is presently 19.05%.

Insider Transactions at MEG Energy

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