MEG Energy Corp. (MEG) to Issue Quarterly Dividend of $0.10 on April 15th

MEG Energy Corp. (TSE:MEG) announced a quarterly dividend on Thursday, March 20th, TickerTech Dividends reports. Stockholders of record on Tuesday, April 15th will be given 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 is Thursday, March 20th.

MEG Energy Stock Up 1.7 %

Shares of TSE MEG opened at C$24.59 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 22.80. The firm has a market cap of C$6.37 billion, a PE ratio of 13.03, a P/E/G ratio of 0.17 and a beta of 2.89. The company’s fifty day simple moving average is C$23.40 and its 200 day simple moving average is C$24.59. MEG Energy has a 12-month low of C$19.77 and a 12-month high of C$33.70.

Insider Buying and Selling at MEG Energy

In other news, Director Robert Ross Rooney acquired 8,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was purchased 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.

Wall Street Analysts Forecast Growth

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

About MEG Energy

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.