MEG Energy (TSE:MEG – Get Free Report) had its price target increased by JPMorgan Chase & Co. from C$33.00 to C$34.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.57% from the stock’s current price.
A number of other analysts also recently issued reports on the stock. BMO Capital Markets raised their price target on shares of MEG Energy from C$30.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Royal Bank of Canada raised their price target on shares of MEG Energy from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Scotiabank downgraded shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$27.00 price target on the stock. in a report on Tuesday, November 28th. TD Securities raised their price target on shares of MEG Energy from C$28.00 to C$32.00 and gave the company a “hold” rating in a report on Friday, March 1st. Finally, CIBC dropped their price target on shares of MEG Energy from C$27.00 to C$26.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$30.09.
Check Out Our Latest Stock Report on MEG
MEG Energy Stock Up 0.1 %
MEG stock traded up C$0.02 during trading on Tuesday, hitting C$28.92. 576,119 shares of the stock traded hands, compared to its average volume of 1,972,713. MEG Energy has a 1 year low of C$17.79 and a 1 year high of C$30.00. The firm’s 50 day moving average is C$25.44 and its two-hundred day moving average is C$25.48. The stock has a market cap of C$7.87 billion, a price-to-earnings ratio of 14.65, 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 current ratio of 1.48 and a quick ratio of 1.17.
MEG Energy (TSE:MEG – Get Free Report) last announced 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 net margin of 10.06% and a return on equity of 12.77%. The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.40 billion. On average, sell-side analysts anticipate that MEG Energy will post 2.3207395 EPS for the current year.
Insider Transactions at MEG Energy
In other MEG Energy news, Director Derek Watson Evans sold 234,562 shares of the firm’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 transaction of C$6,788,247.74. Company insiders own 0.57% of the company’s stock.
MEG Energy Company Profile
MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production 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.
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