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

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, April 15th, TickerTech reports. Investors 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 yield of 6.18%. The ex-dividend date is Monday, April 29th.

Surge Energy Stock Down 0.4 %

SGY opened at C$7.77 on Friday. Surge Energy has a 12 month low of C$5.89 and a 12 month high of C$9.77. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. The stock has a market cap of C$781.51 million, a P/E ratio of 4.80, a P/E/G ratio of 0.59 and a beta of 2.66. The stock’s 50 day moving average price is C$7.34 and its 200 day moving average price is C$7.39.

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 net margin of 2.82% and a return on equity of 1.87%. The business had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million. As a group, research analysts predict that Surge Energy will post 1.0050697 earnings per share for the current year.

Insider Transactions at Surge Energy

In other news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total transaction of C$99,869.70. Corporate insiders own 1.91% of the company’s stock.

Analyst Ratings Changes

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