Analysts Set Surge Energy Inc. (TSE:SGY) Price Target at C$11.43

Shares of Surge Energy Inc. (TSE:SGY) have earned a consensus recommendation of “Buy” from the four brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$11.43.

SGY has been the topic of several recent research reports. Canaccord Genuity Group decreased their target price on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Cormark raised Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. National Bankshares boosted their target price on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Acumen Capital raised their price target on 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. Finally, Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th.

Surge Energy Trading Up 3.1 %

Shares of SGY opened at C$5.61 on Friday. Surge Energy has a fifty-two week low of C$5.32 and a fifty-two week high of C$8.72. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The company’s fifty day moving average is C$6.04 and its 200 day moving average is C$6.61. The stock has a market capitalization of C$562.80 million, a PE ratio of 3.46, a P/E/G ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.0433 per share. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 dividend on an annualized basis and a dividend yield of 9.26%. The ex-dividend date of this dividend is Thursday, October 31st. Surge Energy’s payout ratio is currently 32.10%.

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.