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

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.043 per share on Tuesday, October 15th. This represents a $0.52 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date of this dividend is Friday, September 27th.

Surge Energy Stock Up 2.5 %

TSE SGY opened at C$6.20 on Wednesday. The stock has a 50 day moving average price of C$6.62 and a 200-day moving average price of C$7.01. Surge Energy has a one year low of C$5.51 and a one year high of C$9.77. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The company has a market capitalization of C$621.98 million, a P/E ratio of 3.81, a P/E/G ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last posted its earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million. As a group, equities analysts predict that Surge Energy will post 0.8496454 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SGY has been the topic of several analyst reports. BMO Capital Markets boosted their target price on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Acumen Capital lifted their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$11.89.

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.