Surge Energy Inc. (TSE:SGY) Given Consensus Recommendation of “Buy” by Brokerages

Surge Energy Inc. (TSE:SGY) has been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$11.79.

A number of research analysts recently weighed in on the stock. National Bankshares decreased 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 research note on Wednesday, January 10th. BMO Capital Markets set a C$10.00 target price on shares of Surge Energy and gave the company an “outperform” rating in a research report on Thursday, March 21st. ATB Capital cut their price target on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Finally, Raymond James reduced their price target 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.

Insider Buying and Selling

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

Surge Energy Price Performance

TSE:SGY opened at C$7.14 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 33.44. Surge Energy has a 52 week low of C$5.89 and a 52 week high of C$9.77. The stock’s 50-day moving average price is C$7.41 and its 200-day moving average price is C$7.29. The stock has a market capitalization of C$718.14 million, a PE ratio of 4.41, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last issued its quarterly 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). The company had revenue of C$168.45 million during the quarter, compared to analysts’ expectations of C$179.30 million. Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. As a group, equities analysts expect that Surge Energy will post 1.0050697 EPS for the current fiscal year.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, April 29th. This represents a $0.48 annualized dividend and a dividend yield of 6.72%. Surge Energy’s dividend payout ratio (DPR) is 29.63%.

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.