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

MEG Energy (TSE:MEG - Get Free Report) had its price objective upped by stock analysts at TD Securities from C$31.00 to C$32.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price target suggests a potential upside of 1.30% from the stock's current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of MEG Energy from C$33.00 to C$34.00 in a report on Tuesday, March 12th. National Bankshares upped their price objective on shares of 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. Jefferies Financial Group upped their target price on shares of MEG Energy from C$28.00 to C$35.00 and gave the stock a "hold" rating in a research report on Friday, April 12th. ATB Capital upped their target price on shares of MEG Energy from C$32.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Finally, Desjardins upped their target price on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a "hold" rating in a research report on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$33.09.

MEG Energy Trading Up 0.1 %

TSE:MEG traded up C$0.03 during midday trading on Tuesday, reaching C$31.59. 1,404,981 shares of the stock traded hands, compared to its average volume of 1,794,387. 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 12 month low of C$19.41 and a 12 month high of C$33.70. The stock has a market capitalization of C$8.60 billion, a P/E ratio of 15.95, a PEG ratio of 0.17 and a beta of 3.16. The company has a fifty day moving average of C$30.85 and a 200 day moving average of C$27.12.

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

Insider Transactions at MEG Energy

In other news, Director Derek Watson Evans sold 234,562 shares of the 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. In other MEG Energy news, Senior Officer David Michael Granger sold 32,144 shares of the firm's 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 firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. Insiders have sold 301,679 shares of company stock worth $8,825,336 in the last quarter. 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.