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

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

MEG Energy Price Performance

MEG stock opened at C$27.91 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.41 and a debt-to-equity ratio of 28.18. MEG Energy has a 52-week low of C$22.59 and a 52-week high of C$33.70. The stock’s 50 day moving average is C$28.68 and its two-hundred day moving average is C$28.61. The company has a market capitalization of C$7.61 billion, a PE ratio of 13.55, a P/E/G ratio of 0.17 and a beta of 3.12.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Monday, May 6th. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of C$1.25 billion. Analysts predict that MEG Energy will post 2.4508333 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MEG has been the topic of several analyst reports. Jefferies Financial Group dropped 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. National Bankshares boosted their price target on MEG Energy from C$32.00 to C$37.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. CIBC boosted their price target on MEG Energy from C$30.00 to C$34.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Scotiabank boosted their price target on MEG Energy from C$34.00 to C$35.00 in a report on Friday, July 12th. Finally, Raymond James set a C$28.00 price target on MEG Energy and gave the company a “market perform” rating in a report on Wednesday, May 29th. Seven analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MEG Energy currently has an average rating of “Hold” and an average price target of C$33.08.

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.