MEG Energy Corp. (TSE:MEG – Free Report) – Equities research analysts at Raymond James issued their FY2029 earnings per share estimates for MEG Energy in a report released on Wednesday, May 7th. Raymond James analyst M. Barth expects that the company will post earnings of $2.87 per share for the year. The consensus estimate for MEG Energy’s current full-year earnings is $2.27 per share.
Other research analysts have also recently issued reports about the company. Scotiabank raised MEG Energy to a “strong-buy” rating in a report on Wednesday, March 19th. TD Securities cut 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 report on Friday, February 28th. National Bankshares upped their price objective on shares of MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. CIBC cut their target price on shares of MEG Energy from C$32.00 to C$28.00 in a research note on Thursday, April 10th. Finally, Royal Bank of Canada decreased their price target on MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MEG Energy currently has an average rating of “Moderate Buy” and an average target price of C$30.35.
MEG Energy Price Performance
MEG Energy stock opened at C$21.01 on Friday. The business has a 50 day simple moving average of C$21.85 and a 200 day simple moving average of C$23.36. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. The company has a market capitalization of C$5.45 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy has a one year low of C$17.00 and a one year high of C$31.71.
Insider Buying and Selling at MEG Energy
In related news, Senior Officer Erik Alexander Alson sold 32,728 shares of the business’s stock in a transaction that occurred on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total transaction of C$791,690.32. Also, Director Darlene Miriam Gates sold 91,584 shares of the firm’s stock in a transaction that occurred on Saturday, March 15th. The shares were sold at an average price of C$24.19, for a total transaction of C$2,215,416.96. Corporate insiders own 0.33% of the company’s stock.
MEG Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, March 20th. MEG Energy’s dividend payout ratio is 21.19%.
About MEG Energy
MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.
Further Reading
- Five stocks we like better than MEG Energy
- Health Care Stocks Explained: Why You Might Want to Invest
- GlobalFoundries Stock Hits Bottom: Is a Rebound Coming?
- Learn Technical Analysis Skills to Master the Stock Market
- Here’s The Reason Goldman Sachs Is Bullish On MercadoLibre Stock
- 3 REITs to Buy and Hold for the Long Term
- Analyst-Favorite Bitcoin Miner CleanSpark: Worth the Hype?
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.
