Surge Energy Inc. (SGY) to Issue Monthly Dividend of $0.04 on May 15th

Surge Energy Inc. (TSE:SGY) announced 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 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Monday, April 29th.

Surge Energy Stock Performance

Shares of TSE SGY traded up C$0.09 during trading hours on Wednesday, hitting C$7.88. 47,679 shares of the stock were exchanged, compared to its average volume of 436,698. 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’s 50 day moving average is C$7.15 and its 200 day moving average is C$7.43. The firm has a market capitalization of C$792.57 million, a P/E ratio of 4.81, a P/E/G ratio of 0.59 and a beta of 2.66. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77.

Surge Energy (TSE:SGY) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share 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 company had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. On average, research analysts expect that Surge Energy will post 1.0050697 EPS for the current year.

Insider Activity at Surge Energy

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total value of C$99,869.70. 1.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SGY. ATB Capital dropped 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 report on Thursday, January 18th. 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 report on Thursday, March 21st. National Bankshares dropped 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. Finally, Raymond James dropped their price target 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, Surge Energy presently has an average rating of “Buy” and a consensus target price of C$11.79.

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.