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

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Tuesday, October 15th, TickerTech reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.0433 per share on Friday, November 15th. This represents a $0.52 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Surge Energy’s previous monthly dividend of $0.04.

Surge Energy Trading Down 4.9 %

Shares of TSE SGY opened at C$6.17 on Wednesday. The stock has a market cap of C$618.97 million, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The firm has a 50 day moving average price of C$6.34 and a two-hundred day moving average price of C$6.90. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. Surge Energy has a 52-week low of C$5.51 and a 52-week high of C$9.77.

Surge Energy (TSE:SGY) last announced 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 return on equity of 10.03% and a negative net margin of 14.28%. The company had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million.

Wall Street Analysts Forecast Growth

SGY has been the topic of several recent analyst reports. National Bankshares boosted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. BMO Capital Markets boosted their price objective on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Cormark raised Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, Acumen Capital lifted their target price on Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Surge Energy presently has a consensus rating of “Buy” and an average price target of C$11.93.

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.