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

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Monday, April 15th, TickerTech reports. Investors 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 yield of 6.18%. The ex-dividend date of this dividend is Monday, April 29th.

Surge Energy Stock Down 0.4 %

Surge Energy stock opened at C$7.77 on Friday. The company has a market cap of C$781.51 million, a P/E ratio of 4.80, a price-to-earnings-growth 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. The company has a fifty day simple moving average of C$7.32 and a 200 day simple moving average of C$7.40. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 33.44.

Surge Energy (TSE:SGY) last announced its quarterly earnings data 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 firm had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. Research analysts anticipate that Surge Energy will post 1.0050697 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of Surge Energy stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$7.42, for a total value of C$29,182.86. Corporate insiders own 1.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SGY shares. National Bankshares cut their target price on shares of 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. BMO Capital Markets set a C$10.00 target price on shares of Surge Energy and gave the stock an “outperform” rating in a research note on Thursday, March 21st. ATB Capital cut 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 research note on Thursday, January 18th. Finally, Raymond James cut 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 research note on Friday, January 19th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Surge Energy has a consensus rating of “Buy” and a consensus 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.