Megger testing is a trending process, a single reading has little value other then to tell you what is happening now. For example, when is a 20 Megohm reading a problem, when the last reading was 50 megs. You would only know this if you kept a record of the readings, including temperature and humidity. The above reading would tell you the equipment is ok, but the trend is deteriorating and may be cause for checking the equipment at a more frequent interval. Also, if you don't do the test for the required full minute, the reading may have no real value as other factors enter into the reading, such as capacitive charging current, and absorption current. These will be important on large machinery.
Cable should be meggered one wire at a time with the others shorted and grounded. This insures the intergity of the wire being tested and the insulation between the other conductors.
If testing is done on equipment containing oil then the reading has to be adjusted for temperature. If your megger has a guard terminal, leakage caused water moisture entering the end of the cable can be eliminated by proper use of the guard terminal.