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

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, April 15th, TickerTech reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.04 per share on Wednesday, May 15th. This represents a $0.48 annualized dividend and a yield of 6.26%. The ex-dividend date is Monday, April 29th.

Surge Energy Trading Down 3.3 %

Shares of Surge Energy stock opened at C$7.67 on Tuesday. Surge Energy has a 1 year low of C$5.89 and a 1 year high of C$9.77. The firm has a market cap of C$771.45 million, a PE ratio of 4.73, a PEG ratio of 0.59 and a beta of 2.66. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. The company has a 50 day simple moving average of C$7.11 and a two-hundred day simple moving average of C$7.44.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.53). Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. The business had revenue of C$168.45 million for the quarter, compared to analysts’ expectations of C$179.30 million. Analysts expect that Surge Energy will post 1.0050697 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SGY has been the topic of a number of research analyst reports. Raymond James reduced their price objective 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. BMO Capital Markets set a C$10.00 price objective on shares of Surge Energy and gave the company an “outperform” rating in a research report on Thursday, March 21st. ATB Capital reduced their price objective 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, National Bankshares reduced their price objective on shares of Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Surge Energy currently has a consensus rating of “Buy” and a consensus target price of C$11.79.

Insider Buying and Selling

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the 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.