Surge Energy Inc. (SGY) to Issue Monthly Dividend of $0.04 on May 15th

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, April 15th, TickerTech reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date is Monday, April 29th.

Surge Energy Trading Down 0.4 %

SGY stock opened at C$7.77 on Friday. The company has a market cap of C$781.51 million, a price-to-earnings ratio of 4.80, a PEG ratio of 0.59 and a beta of 2.66. The company has a quick ratio of 0.40, a current ratio of 0.52 and a debt-to-equity ratio of 33.44. The business has a fifty day simple moving average of C$7.32 and a 200-day simple moving average of C$7.40. 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) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million. On average, equities research analysts expect that Surge Energy will post 1.0050697 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. National Bankshares decreased their price objective on shares of Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Raymond James reduced 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 report on Friday, January 19th. ATB Capital reduced 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. Finally, BMO Capital Markets set a C$10.00 price target on shares of Surge Energy and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$11.79.

Insiders Place Their Bets

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$7.42, for a total value of C$29,182.86. 1.91% of the stock is currently owned by corporate insiders.

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.