MEG Energy (TSE:MEG) Given New C$32.00 Price Target at TD Securities

MEG Energy (TSE:MEG) had its price objective increased by equities researchers at TD Securities from C$31.00 to C$32.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price suggests a potential upside of 0.82% from the stock’s current price.

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

MEG Energy Stock Up 0.5 %

Shares of TSE MEG opened at C$31.74 on Tuesday. The company’s 50 day moving average price is C$31.00 and its 200-day moving average price is C$27.18. 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 52-week low of C$19.41 and a 52-week high of C$33.70. The company has a market capitalization of C$8.64 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.17 and a beta of 3.16.

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

Insider Buying and Selling

In other MEG Energy news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. In other MEG Energy news, Senior Officer David Michael Granger sold 32,144 shares of MEG Energy stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of C$28.94, for a total value of C$6,788,247.74. Over the last 90 days, insiders sold 301,679 shares of company stock worth $8,825,336. 0.63% of the stock is owned by corporate insiders.

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.