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

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.043 per share on Tuesday, October 15th. This represents a $0.52 annualized dividend and a yield of 8.53%. The ex-dividend date is Friday, September 27th.

Surge Energy Price Performance

Shares of SGY opened at C$6.05 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The stock’s 50 day moving average is C$6.62 and its two-hundred day moving average is C$7.01. Surge Energy has a twelve month low of C$5.51 and a twelve month high of C$9.77. The firm has a market capitalization of C$606.94 million, a PE ratio of 3.73, a P/E/G ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. The business had revenue of C$173.17 million during the quarter, compared to analysts’ expectations of C$174.40 million. Research analysts anticipate that Surge Energy will post 0.8496454 earnings per share for the current year.

Analyst Upgrades and Downgrades

SGY has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Acumen Capital increased their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$11.89.

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.