Surge Energy Inc. (TSE:SGY) to Issue $0.04 Monthly Dividend

Surge Energy Inc. (TSE:SGY) announced a monthly dividend on Monday, June 17th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.04 per share on Monday, July 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Friday, June 28th.

Surge Energy Price Performance

Shares of TSE:SGY opened at C$6.78 on Tuesday. The company’s 50 day moving average is C$7.25 and its 200 day moving average is C$6.94. The company has a market cap of C$681.93 million, a PE ratio of 4.19, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. The company has a current ratio of 0.38, a quick ratio of 0.40 and a debt-to-equity ratio of 34.03. Surge Energy has a twelve month low of C$5.89 and a twelve month high of C$9.77.

Surge Energy (TSE:SGY) last posted its earnings results on Wednesday, May 8th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.17). The business had revenue of C$158.17 million for the quarter, compared to analyst estimates of C$158.95 million. Surge Energy had a negative net margin of 0.48% and a negative return on equity of 0.32%. On average, sell-side analysts forecast that Surge Energy will post 0.7599558 EPS for the current year.

Analyst Ratings Changes

Separately, BMO Capital Markets set a C$10.00 price target on Surge Energy and gave the company an “outperform” rating in a report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Surge Energy presently has a consensus rating of “Buy” and an average target price of C$11.79.

Insider Activity

In other news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$7.98, for a total transaction of C$99,869.70. Company insiders own 1.99% of the company’s stock.

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.