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

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.043 per share on Tuesday, October 15th. This represents a $0.52 annualized dividend and a yield of 8.53%. The ex-dividend date of this dividend is Friday, September 27th.

Surge Energy Price Performance

Surge Energy stock opened at C$6.05 on Tuesday. The firm’s 50-day moving average is C$6.62 and its two-hundred day moving average is C$7.01. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The stock has a market capitalization of C$606.94 million, a P/E ratio of 3.73, a P/E/G ratio of 0.59 and a beta of 2.57. Surge Energy has a 12-month low of C$5.51 and a 12-month high of C$9.77.

Surge Energy (TSE:SGY) last released its earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.02). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. The business had revenue of C$173.17 million during the quarter, compared to analyst estimates of C$174.40 million. Equities analysts predict that Surge Energy will post 0.8496454 earnings per share for the current year.

Analyst Ratings Changes

SGY has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Acumen Capital raised their price objective on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Surge Energy currently has a consensus rating of “Buy” and a consensus target price of C$11.89.

About Surge Energy

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.