Surge Energy Inc. (TSE:SGY) to Issue $0.04 Monthly Dividend

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, April 15th, TickerTech reports. Shareholders 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 6.09%. The ex-dividend date is Monday, April 29th.

Surge Energy Stock Up 1.2 %

Shares of SGY traded up C$0.09 during mid-day trading on Wednesday, hitting C$7.88. 47,679 shares of the company’s stock were exchanged, compared to its average volume of 436,698. The company has a 50-day simple moving average of C$7.15 and a 200 day simple moving average of C$7.43. 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 company has a market cap of C$792.57 million, a PE ratio of 4.81, a P/E/G ratio of 0.59 and a beta of 2.66. 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 announced its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). The firm had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million. Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. On average, research analysts forecast that Surge Energy will post 1.0050697 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James decreased 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. National Bankshares lowered their price objective 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. 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. Finally, ATB Capital lowered 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 report on Thursday, January 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$11.79.

Insider Activity

In other news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$7.42, for a total transaction of C$29,182.86. Corporate insiders own 1.91% of the company’s stock.

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.