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

MEG Energy Corp. (TSE:MEG) declared 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 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, March 20th.

MEG Energy Trading Up 1.7 %

Shares of TSE:MEG opened at C$24.59 on Tuesday. MEG Energy has a 52-week low of C$19.77 and a 52-week high of C$33.70. The company has a market capitalization of C$6.37 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a 50-day simple moving average of C$23.40 and a 200 day simple 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.

Insider Activity at MEG Energy

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

Wall Street Analysts Forecast Growth

MEG has been the topic of several recent research reports. National Bankshares raised their target price on shares of 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. ATB Capital cut their target price on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities cut their target price on shares of 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. Royal Bank of Canada cut their price target on shares of MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. Finally, Desjardins upgraded shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.