|Bid||5.19 x 0|
|Ask||5.20 x 0|
|Day's Range||5.17 - 5.39|
|52 Week Range||4.28 - 11.70|
|Beta (3Y Monthly)||2.11|
|PE Ratio (TTM)||27.75|
|Earnings Date||Feb 6, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.81|
Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,303.83, up 92.61 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 17 cents, or 1.95 per cent, to $8.53 on 24.4 million shares. MEG Energy Corp. (TSX:MEG). Energy. Down 15 cents, or 2.73 per cent, to $5.35 on 12.4 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 0.48 per cent, to $2.10 on 11.4 million shares. Encana Corp. (TSX:ECA). Energy. Up 14 cents, or 1.52 per cent, to $9.34 on 8.8 million shares. Baytex Energy Corp. (TSX:BTE). Energy. Down six cents, or 2.3 per cent, to $2.55 on 6.9 million shares. Hexo Corp. (TSX:HEXO). Health care. Up 51 cents, or 7.96 per cent, to $6.92 on 6.3 million shares. Companies reporting: MEG Energy Corp. Shares in oilsands producer MEG Energy continued to slide Friday after a credit rating agency said rival Husky Energy Inc.'s failure to consummate a hostile takeover bid was actually "credit positive" for Husky. After falling 35.6 per cent on Thursday, MEG stock lost another 2.7 per cent on Friday. Husky lost 4.3 per cent after gaining 12.4 per cent Thursday, Husky's decision to abandon its bid for MEG after more than 50 per cent of the shares were tendered by Wednesday afternoon's deadline surprised most financial analysts who had expected it to extend more time to try to achieve the two-thirds support it needed. WestJet Airlines Inc. (TSX:WJA). Up 43 cents or 2.3 per cent to $18.98. The Transportation Safety Board of Canada says an onboard fire that forced a WestJet plane to return to the Calgary International Airport soon after takeoff last June was caused by spare e-cigarette lithium-ion batteries that a passenger failed to declare in his checked baggage. The agency says in a report that a backpack caught fire and caused minor thermal damage to the cargo compartment's fire-resistant liner near the bag. An investigation could not determine if the damage occurred before the batteries arrived at the airport or during baggage handling. Canadian National Railway Co. (TSX:CNR). Up 25 cents to $109.25. The Federal Court of Appeal has upheld a ruling that found the courts have jurisdiction to determine damages CN Rail must pay after breaching its service obligations to a Prairie grain shipping company during a bumper crop five years ago. The case goes back to a complaint filed by Calgary-based Louis Dreyfus Commodities Canada Ltd. to the Canadian Transportation Agency. Dreyfus said CN failed to provide enough rail cars to some of its grain elevators in Alberta and Saskatchewan to ship the record 2013-2014 grain crop. The Canadian Press
Canadian oil producer MEG Energy Corp's CEO invited his Husky Energy Inc counterpart this month to negotiate a friendly takeover of MEG, but Husky did not follow up, MEG's vice president of investor relations John Rogers said on Friday. Husky abandoned its hostile bid for MEG on Thursday, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut. MEG produced an estimated 88,000 barrels of oil per day in 2018, according to GMP First Energy, equal to about 40 percent of Husky's production.
* The Toronto Stock Exchange's S&P/TSX rose 99.96 points, or 0.66 percent, to 15,211.22. * Leading the index were Husky Energy Inc , up 12.4 percent, Crescent Point Energy Corp , up 4.5 percent, and Canada ...
Husky said in a statement it didn’t secure the backing of the required minimum number of investors by the time its that its cash-and-stock offer expired on Wednesday. Despite winning enough support to extend the deadline for its tender offer by 10 days, which required 50 percent of the shares, Husky decided not to go ahead with the bid, according to people familiar with the matter, who asked not to be named because the details haven’t been made public. Husky cited “negative surprises” since it commenced its bid in October, including the government of Alberta’s mandated production cuts, which were implemented in order lift oil prices in the province, and a continued lack of progress on the development of new export pipeline capacity.
MEG's shares plummeted 36 percent in Toronto, while Husky stock jumped 12 percent. The bid reflected Husky's strategy to double down on heavy oil production even though clogged pipelines drove down Canadian prices.
CALGARY, Jan. 17, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG" or the "Company") acknowledges Husky Energy's ("Husky") press release, stating that the takeover offer for MEG did not meet Husky's minimum tender conditions, due to insufficient shareholder support. By its nature, such forward-looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated.
Husky Energy Inc expects to secure over 50 percent support from MEG Energy shareholders for Husky's C$3.3 billion unsolicited offer to take over the rival oil producer by Wednesday's deadline, people familiar ...
Husky is likely to have won the minimum amount of shareholder support, or more than 50 percent of the company’s outstanding shares, to extend the offer by 10 days, the people said, asking not to be identified because the matter is private. The 10-day extension will allow it to pursue so-called follow-on tenders to gain the necessary support -- two thirds of the outstanding shares -- to take over MEG. The shareholder support strengthens Husky’s hand in its attempt to take over MEG in a deal that it has said will create a larger company that’s better equipped to weather the pipeline bottlenecks that have weighed on Canadian oil producers.
Intermediate oil sands producers MEG Energy Corp. (TSX:MEG) and Pengrowth Energy Corp. (TSX:PGF) are poised to benefit from Alberta's production cuts.
CALGARY, Dec. 21, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG" or the "Company") today acknowledges that on December 14, 2018, the Alberta Securities Commission issued a decision Re Husky Energy Inc., 2018 ABASC 184 (the "Decision"), exempting Husky from subsection 2.23(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids which requires Husky to offer identical consideration to all of the holders of the same class of securities that are subject to a take-over bid in connection with the Husky Offer. In light of the foregoing, MEG hereby announces that it has irrevocably waived the application of the Shareholder Rights Plan effective January 15, 2019 to all offers, including the Husky Energy offer, as the Shareholder Rights Plan has served its intended purpose.
Canadian oil and gas producer Husky Energy Inc said on Tuesday it has received regulatory approvals to buy rival MEG Energy Corp , but MEG has yet to agree on the deal. In October, Husky made an unsolicited ...
The latest OPEC deal has failed to alleviate many of the risks associated with investing in Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and MEG Energy Corp. (TSX:MEG).
MEG Energy Corp (TSX:MEG) is fending off a hostile takeover from Husky Energy. Its status as a low cost producer makes it an attractive takeover target.
NEW YORK, NY / ACCESSWIRE / December 7, 2018 / The Market Edge strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register with us ...
WINNIPEG/TORONTO (Reuters) - Depressed Canadian oil prices are forcing energy companies to use their shares as a currency to fund acquisitions, but investors have been hard to win over to the strategy. Shares of Encana Corp (Toronto:ECA.TO - News), Baytex Energy Corp (Toronto:BTE.TO - News) and International Petroleum Corp (Toronto:IPCO.TO - News), for examples, each plummeted by double-digits on the days they announced deals to buy rivals with shares. "We've been getting shocked with bad news all year, and investors don't necessarily believe that consolidation is a big enough catalyst to offset all the macro headwinds," said Kevin Brent, vice-president of investment for BlueSky Equities, which owns shares in Seven Generations Energy (Toronto:VII.TO - News) and Crescent Point Energy Corp (Toronto:CPG.TO - News).
If crude falls further avoid those companies with considerable oil sands exposure like MEG Energy Corp. (TSX:MEG) and Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE).
NEW YORK, NY / ACCESSWIRE / November 6, 2018 / Research Driven Investing strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register ...
Solid operations deliver production and cash flow growth All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY , Nov 1, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG) today reported ...
The huge discount on Western Canadian Select has crippled many oil producers, but some manage to sell their crude for a good price south of the border
CALGARY , Oct. 25, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG) announces that it intends to release its operating and financial results for the third quarter 2018 on Thursday, November 1, 2018. A conference ...