Desjardins cut shares of MEG Energy (TSE:MEG – Free Report) from a hold rating to a tender rating in a report issued on Monday morning,BayStreet.CA reports. Desjardins currently has C$28.00 price objective on the stock.
MEG Energy Trading Up 0.9%
MEG opened at C$28.15 on Monday. MEG Energy has a 12-month low of C$17.00 and a 12-month high of C$28.64. The company has a debt-to-equity ratio of 22.80, a current ratio of 1.55 and a quick ratio of 1.17. The stock has a market capitalization of C$7.30 billion, a PE ratio of 14.91, a P/E/G ratio of 0.17 and a beta of 2.89. The firm’s fifty day moving average price is C$26.52 and its 200 day moving average price is C$24.09.
MEG Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, September 12th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.6%. This is an increase from MEG Energy’s previous quarterly dividend of $0.10. MEG Energy’s dividend payout ratio (DPR) is 21.19%.
About MEG Energy
MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada. As of March 2021, the company reported estimated net proved and probable reserves of 2 billion barrels of oil equivalent. Net production averaged 82,000 barrels per day in 2020.
Featured Stories
- Five stocks we like better than MEG Energy
- Short Selling – The Pros and Cons
- 3 Biotech Catalysts Present Major Opportunity
- Dividend Payout Ratio Calculator
- 3 Cheap Stocks That Shouldn’t Be This Low
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Why Sprouts Farmers Market is Buying $1 Billion of Its Own Stock
Receive News & Ratings for MEG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy and related companies with MarketBeat.com's FREE daily email newsletter.
