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

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Wednesday, May 15th, Zacks reports. Investors of record on Friday, May 31st will be given a dividend of 0.04 per share on Monday, June 17th. This represents a $0.48 annualized dividend and a yield of 6.93%. The ex-dividend date is Friday, May 31st.

Surge Energy Stock Performance

Shares of TSE SGY opened at C$6.93 on Thursday. The company has a debt-to-equity ratio of 34.03, a current ratio of 0.38 and a quick ratio of 0.40. The firm has a market cap of C$697.02 million, a price-to-earnings ratio of 4.26, a P/E/G ratio of 0.59 and a beta of 2.66. The stock’s fifty day moving average price is C$7.43 and its two-hundred day moving average price is C$7.21. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). The business had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. Surge Energy had a negative net margin of 0.50% and a negative return on equity of 0.32%. On average, equities analysts forecast that Surge Energy will post 0.8357488 EPS for the current year.

Insider Activity at Surge Energy

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the company’s stock in a transaction 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. 1.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SGY shares. Raymond James cut 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. ATB Capital cut their target price on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Finally, BMO Capital Markets set a C$10.00 target price on Surge Energy and gave the stock an “outperform” rating in a report on Thursday, March 21st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Surge Energy currently has a consensus rating of “Buy” and an average price target 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.