Surge Energy (TSE:SGY) Reaches New 52-Week High – Here’s Why

Surge Energy Inc. (TSE:SGY)’s share price hit a new 52-week high during mid-day trading on Monday. The company traded as high as C$12.73 and last traded at C$12.72, with a volume of 283,463 shares changing hands. The stock had previously closed at C$12.63.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets increased their price target on shares of Surge Energy from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$13.65.

Surge Energy Stock Up 0.5%

The company has a debt-to-equity ratio of 31.11, a quick ratio of 0.40 and a current ratio of 1.04. The firm has a market capitalization of C$1.26 billion, a P/E ratio of 28.84, a P/E/G ratio of 0.59 and a beta of -0.26. The stock has a fifty day moving average price of C$11.41 and a two-hundred day moving average price of C$10.24.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.68 earnings per share (EPS) for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%. The business had revenue of C$191.22 million for the quarter.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 31st. Surge Energy’s dividend payout ratio is 118.18%.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.