Surge Energy Inc. (TSE:SGY) Receives Consensus Recommendation of “Buy” from Analysts

Surge Energy Inc. (TSE:SGY) has been assigned an average rating of “Buy” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$11.43.

Several brokerages have recently commented on SGY. Cormark upgraded Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. BMO Capital Markets raised their target price on shares of 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 upped 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 report on Thursday, August 1st. Raymond James raised shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group reduced their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd.

Surge Energy Trading Up 3.1 %

SGY opened at C$5.61 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The stock’s fifty day moving average is C$6.04 and its two-hundred day moving average is C$6.61. The company has a market capitalization of C$562.80 million, a P/E ratio of 3.46, a PEG ratio of 0.59 and a beta of 2.54. Surge Energy has a 52 week low of C$5.32 and a 52 week high of C$8.72.

Surge Energy Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.0433 dividend. This represents a $0.52 annualized dividend and a yield of 9.26%. This is an increase from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Thursday, October 31st. Surge Energy’s dividend payout ratio (DPR) is 32.10%.

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.