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

Surge Energy Inc. (TSE:SGY) declared a monthly dividend on Thursday, August 15th, Zacks reports. Investors of record on Saturday, August 31st will be paid a dividend of 0.043 per share on Monday, September 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, August 30th.

Surge Energy Trading Down 0.6 %

SGY stock opened at C$6.74 on Friday. Surge Energy has a 12 month low of C$5.89 and a 12 month high of C$9.77. The firm’s 50-day moving average is C$6.90 and its 200 day moving average is C$7.04. The company has a market capitalization of C$676.16 million, a PE ratio of 4.19, a P/E/G ratio of 0.59 and a beta of 2.58. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing the consensus estimate of C$0.34 by C($0.02). Surge Energy had a negative return on equity of 10.03% and a negative net margin of 14.28%. The firm had revenue of C$173.17 million for the quarter, compared to analysts’ expectations of C$174.40 million. On average, research analysts anticipate that Surge Energy will post 0.8427835 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on SGY. Acumen Capital boosted their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets increased their price objective on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Surge Energy presently has an average 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.