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

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

Surge Energy Price Performance

SGY opened at C$7.67 on Tuesday. The company has a debt-to-equity ratio of 33.44, a quick ratio of 0.40 and a current ratio of 0.52. The stock has a market capitalization of C$771.45 million, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. The stock’s 50 day moving average price is C$7.11 and its 200-day moving average price is C$7.44. Surge Energy has a 52-week low of C$5.89 and a 52-week high of C$9.77.

Surge Energy (TSE:SGY) last released its earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$179.30 million. On average, equities research analysts predict that Surge Energy will post 1.0050697 EPS for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.