Surge Energy Inc. (TSE:SGY) Declares 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 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 6.18%. The ex-dividend date is Monday, April 29th.

Surge Energy Price Performance

Shares of SGY opened at C$7.77 on Friday. The firm has a fifty day moving average price of C$7.34 and a 200 day moving average price of C$7.39. Surge Energy has a 1-year low of C$5.89 and a 1-year 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 PE ratio of 4.80, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66.

Surge Energy (TSE:SGY) last announced its 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). 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 analysts’ expectations of C$179.30 million. As a group, sell-side analysts anticipate that Surge Energy will post 1.0050697 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total transaction of C$99,869.70. 1.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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