In a new note to investors yesterday, an analyst has provided a rating update for the Utilities sector company, MEG Energy (MEG). The company received a Hold rating from GMP FirstEnergy’s analyst Michael Dunn, with a C$5.75 price target.
According to TipRanks.com, Dunn is ranked 0 out of 5 stars with an average return of -9.7% and a 32.0% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, PrairieSky Royalty Ltd, and Crescent Point Energy.
MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$7.63.
MEG Energy’s market cap is currently C$1.56B and has a P/E ratio of 30.9. The company has a Price to Book ratio of 0.38.
MEG Energy Corp. engages in the development and production of situ oil sands. It focuses in southern Athabasca oil sands region of Alberta. It also develops enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods, which consists of Christina Lake Project and the Surmont Project.
The company’s shares closed on Wednesday at C$5.25, close to its 52-week low of C$4.28.
