National Bankshares Issues Positive Forecast for MEG Energy (TSE:MEG) Stock Price

MEG Energy (TSE:MEG) had its price target raised by National Bankshares from C$27.00 to C$28.00 in a report released on Thursday,BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Several other analysts have also recently commented on MEG. ATB Capital dropped their price target on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities increased their target price on shares of 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. BMO Capital Markets lowered their price target on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Royal Bank of Canada cut their price objective on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, Desjardins upgraded MEG Energy from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$32.00.

MEG Energy Trading Down 1.0 %

Shares of MEG stock opened at C$23.96 on Thursday. The stock has a 50 day simple moving average of C$24.02 and a 200-day simple moving average of C$25.64. MEG Energy has a 1-year low of C$22.02 and a 1-year high of C$33.70. The company has a market cap of C$6.46 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.17 and a beta of 2.89. 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 (TSE:MEG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) 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 analyst estimates of C$1.33 billion. On average, equities research analysts expect that MEG Energy will post 2.2734628 EPS for the current fiscal year.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, December 16th. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Insiders Place Their Bets

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