MEG Energy Corp. to Issue Quarterly Dividend of $0.10 (TSE:MEG)

MEG Energy Corp. (TSE:MEG) declared a quarterly dividend on Thursday, March 20th, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.10 per share on Tuesday, April 15th. This represents a $0.40 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 20th.

MEG Energy Stock Performance

TSE MEG opened at C$24.59 on Tuesday. MEG Energy has a fifty-two week low of C$19.77 and a fifty-two week high of C$33.70. The stock has a market cap of C$6.37 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The business has a fifty day moving average of C$23.40 and a 200-day moving average of C$24.59. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80.

Insiders Place Their Bets

In other news, Director Robert Ross Rooney acquired 8,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of C$23.06 per share, for a total transaction of C$195,993.00. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MEG. National Bankshares boosted their price target on MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Royal Bank of Canada cut their price target on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. Desjardins upgraded MEG Energy from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, January 28th. ATB Capital cut their price objective on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, TD Securities dropped their price target on MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$31.40.

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.