MEG Energy Corp. Declares 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 dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, March 20th.

MEG Energy Stock Performance

Shares of MEG stock opened at C$24.59 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 22.80. MEG Energy has a 12-month low of C$19.77 and a 12-month high of C$33.70. The business’s 50 day moving average is C$23.40 and its two-hundred day moving average is C$24.59. The company has a market capitalization of C$6.37 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.17 and a beta of 2.89.

Insider Transactions at MEG Energy

In related news, Director Robert Ross Rooney bought 8,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of C$23.06 per share, with a total value of C$195,993.00. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MEG shares. ATB Capital decreased their target price on MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities decreased their price objective on shares of MEG Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, February 28th. National Bankshares lifted their target price on shares of 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. Desjardins upgraded shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price objective on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.