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

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 of this dividend is Thursday, March 20th.

MEG Energy Trading Up 1.7 %

Shares of MEG Energy stock opened at C$24.59 on Tuesday. The stock has a 50 day moving average of C$23.40 and a 200 day moving average of C$24.59. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.17 and a beta of 2.89. MEG Energy has a fifty-two week low of C$19.77 and a fifty-two week high of C$33.70.

Insider Activity at MEG Energy

In related news, Director Robert Ross Rooney bought 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost 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

MEG has been the subject of a number of research analyst reports. Desjardins upgraded MEG Energy from a “hold” rating to a “moderate buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada lowered their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th. National Bankshares lifted their price target 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. 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. Finally, ATB Capital dropped their target price on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.