Surge Energy Inc. (TSE:SGY) to Issue Dividend Increase – $0.04 Per Share

by · The Markets Daily

Surge Energy Inc. (TSE:SGY – Get Free Report) declared a monthly dividend on Tuesday, October 15th, TickerTech reports. Shareholders of record on Thursday, October 31st will be paid a dividend of 0.0433 per share on Friday, November 15th. This represents a $0.52 annualized dividend and a yield of 8.72%. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Surge Energy’s previous monthly dividend of $0.04.

Surge Energy Stock Down 0.3 %

Shares of TSE:SGY opened at C$5.96 on Wednesday. The company has a market cap of C$597.91 million, a price-to-earnings ratio of 3.68, a PEG ratio of 0.59 and a beta of 2.54. The firm’s 50-day simple moving average is C$6.23 and its 200-day simple moving average is C$6.76. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. Surge Energy has a fifty-two week low of C$5.51 and a fifty-two week high of C$9.77.

Surge Energy (TSE:SGY – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). The company had revenue of C$173.17 million for the quarter, compared to analysts’ expectations of C$174.40 million. Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SGY. Cormark raised shares of Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Acumen Capital lifted their target price on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. National Bankshares lifted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group cut their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Surge Energy has a consensus rating of “Buy” and a consensus price target of C$11.43.

Check Out Our Latest Report on Surge Energy

Surge Energy Company Profile

(Get Free Report)

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.

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