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

MEG Energy Corp. (TSE:MEG) announced a dividend on Thursday, July 25th, Zacks reports. Shareholders of record on Tuesday, September 17th will be paid a dividend of 0.10 per share on Tuesday, October 15th. The ex-dividend date of this dividend is Tuesday, September 17th.

MEG Energy Stock Up 1.5 %

Shares of MEG opened at C$27.91 on Friday. The company has a market capitalization of C$7.61 billion, a P/E ratio of 13.55, a PEG ratio of 0.17 and a beta of 3.12. MEG Energy has a one year low of C$22.59 and a one year high of C$33.70. The business’s 50 day simple moving average is C$28.68 and its 200-day simple moving average is C$28.61. The company has a debt-to-equity ratio of 28.18, a current ratio of 1.41 and a quick ratio of 1.17.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Monday, May 6th. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.09). MEG Energy had a return on equity of 13.20% and a net margin of 10.58%. The business had revenue of C$1.36 billion during the quarter, compared to analyst estimates of C$1.25 billion. As a group, sell-side analysts predict that MEG Energy will post 2.4508333 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James set a C$28.00 price objective on shares of MEG Energy and gave the company a “market perform” rating in a research report on Wednesday, May 29th. National Bankshares boosted their price objective on shares of MEG Energy from C$32.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Friday, April 19th. Jefferies Financial Group reduced their price objective on MEG Energy from C$35.00 to C$32.00 and set a “hold” rating on the stock in a report on Monday, July 15th. CIBC lifted their target price on MEG Energy from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, MEG Energy currently has an average rating of “Hold” and a consensus target price of C$33.08.

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.