TD Securities Increases MEG Energy (TSE:MEG) Price Target to C$32.00

MEG Energy (TSE:MEG) had its target price lifted by TD Securities from C$31.00 to C$32.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. Desjardins lifted their price target 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. National Bankshares boosted their price target on shares of MEG Energy from C$32.00 to C$37.00 and gave the stock a sector perform rating in a research report on Friday, April 19th. Royal Bank of Canada upped their price target on shares of MEG Energy from C$32.00 to C$39.00 in a report on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a hold rating in a research note on Friday, April 12th. Finally, ATB Capital increased their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of C$33.09.

MEG Energy Stock Performance

Shares of MEG opened at C$31.56 on Tuesday. The firm has a fifty day moving average of C$31.05 and a 200-day moving average of C$27.21. The company has a market cap of C$8.59 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth 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 1 year low of C$19.41 and a 1 year 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 the consensus estimate of C$0.59 by C($0.22). The firm had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.40 billion. MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. As a group, equities analysts anticipate that MEG Energy will post 2.3198041 earnings per share for the current year.

Insider Transactions at MEG Energy

In related news, Senior Officer David Michael Granger sold 32,144 shares of the company’s stock in a transaction 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. In other news, Director Derek Watson Evans sold 234,562 shares of the stock in a transaction 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. Also, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. Over the last quarter, insiders have sold 301,679 shares of company stock worth $8,825,336. 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.