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

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, April 15th, TickerTech reports. Stockholders 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 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Monday, April 29th.

Surge Energy Stock Down 3.3 %

Shares of Surge Energy stock opened at C$7.67 on Tuesday. The business has a 50-day moving average of C$7.11 and a 200-day moving average of C$7.44. 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 capitalization of C$771.45 million, a PE ratio of 4.73, a P/E/G ratio of 0.59 and a beta of 2.66. Surge Energy has a 1-year low of C$5.89 and a 1-year high of C$9.77.

Surge Energy (TSE:SGY) last posted 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 return on equity of 1.87% and a net margin of 2.82%. As a group, equities analysts forecast that Surge Energy will post 1.0050697 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of C$99,869.70. Corporate insiders own 1.91% of the company’s stock.

Analyst Upgrades and Downgrades

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