Surge Energy Inc. (TSE:SGY – Get Free Report) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$11.93.
SGY has been the subject of several research reports. Acumen Capital raised their price target on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. BMO Capital Markets raised their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Cormark raised shares of Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, National Bankshares increased their price target on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th.
Check Out Our Latest Report on SGY
Surge Energy Stock Down 1.5 %
Surge Energy (TSE:SGY – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.34 by C($0.02). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. The business had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million.
Surge Energy Increases Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a $0.0433 dividend. This is a boost from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. This represents a $0.52 annualized dividend and a yield of 8.55%. Surge Energy’s payout ratio is 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.
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