MEG Energy (TSE:MEG) Price Target Increased to C$32.00 by Analysts at TD Securities

MEG Energy (TSE:MEG) had its price objective boosted by TD Securities from C$31.00 to C$32.00 in a research note published on Tuesday, BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also issued reports on MEG. Desjardins raised their price objective on shares of MEG Energy from C$30.00 to C$31.00 and gave the company a hold rating in a report on Friday, March 22nd. BMO Capital Markets lifted their price target on shares of MEG Energy from C$35.00 to C$37.00 in a report on Thursday, March 28th. ATB Capital increased their price objective on MEG Energy from C$32.00 to C$35.00 and gave the company an outperform rating in a report on Wednesday, March 20th. National Bankshares lifted their target price on MEG Energy from C$32.00 to C$37.00 and gave the stock a sector perform rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price target on MEG Energy from C$33.00 to C$34.00 in a research report on Tuesday, March 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of C$33.09.

MEG Energy Stock Performance

TSE MEG opened at C$31.59 on Tuesday. The firm’s fifty day moving average price is C$30.93 and its two-hundred day moving average price is C$27.14. The stock has a market cap of C$8.60 billion, a PE ratio of 15.95, a PEG ratio of 0.17 and a beta of 3.16. The company has a debt-to-equity ratio of 30.55, a quick ratio of 1.17 and a current ratio of 1.48. MEG Energy has a fifty-two week low of C$19.41 and a fifty-two week high of C$33.70.

MEG Energy (TSE:MEG) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). The firm had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.40 billion. MEG Energy had a return on equity of 12.77% and a net margin of 10.06%. On average, equities analysts expect that MEG Energy will post 2.3198041 EPS for the current fiscal year.

Insider Buying and Selling at MEG Energy

In related news, Senior Officer David Michael Granger sold 32,144 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total value of C$979,504.83. In other news, Senior Officer Erik Alexander Alson sold 34,528 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$30.24, for a total value of C$1,044,126.72. Also, Senior Officer David Michael Granger sold 32,144 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Over the last quarter, insiders sold 301,679 shares of company stock valued at $8,825,336. Company insiders own 0.63% 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.