Surge Energy Inc. (TSE:SGY) Declares Monthly Dividend of $0.04

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Monday, April 15th, TickerTech reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.04 per share on Wednesday, May 15th. This represents a $0.48 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Monday, April 29th.

Surge Energy Stock Performance

Shares of SGY stock opened at C$7.67 on Tuesday. The firm has a market cap of C$771.45 million, a P/E ratio of 4.73, a PEG ratio of 0.59 and a beta of 2.66. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. Surge Energy has a fifty-two week low of C$5.89 and a fifty-two week high of C$9.77. The stock’s 50-day moving average is C$7.11 and its two-hundred day moving average is C$7.44.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.53). Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. The business had revenue of C$168.45 million for the quarter, compared to analyst estimates of C$179.30 million. Analysts predict that Surge Energy will post 1.0050697 earnings per share for the current fiscal year.

Insider Activity at Surge Energy

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total value of C$99,869.70. Insiders own 1.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SGY. ATB Capital dropped their target price on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Raymond James decreased their target price on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. BMO Capital Markets set a C$10.00 price target on Surge Energy and gave the company an “outperform” rating in a report on Thursday, March 21st. Finally, National Bankshares cut their target price on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$11.79.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.