MEG Energy Corp. (TSE:MEG) Receives C$31.40 Consensus Price Target from Brokerages

MEG Energy Corp. (TSE:MEG) has received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$31.40.

A number of equities research analysts have recently weighed in on MEG shares. National Bankshares lifted their target price on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. ATB Capital lowered their price target on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Royal Bank of Canada lowered their price target on shares of MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Desjardins raised shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th. Finally, TD Securities lowered their price target on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, February 28th.

MEG Energy Trading Up 0.0 %

Shares of MEG opened at C$24.60 on Friday. The firm’s 50-day moving average price is C$23.39 and its 200-day moving average price is C$24.57. The firm has a market capitalization of C$6.38 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 22.80. MEG Energy has a 1-year low of C$19.77 and a 1-year high of C$33.70.

MEG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 1.63%. MEG Energy’s dividend payout ratio (DPR) is presently 21.19%.

About MEG Energy

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.