Analysts Set Surge Energy Inc. (TSE:SGY) Target Price at C$11.89

Surge Energy Inc. (TSE:SGY) has been given a consensus rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat.com 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 price target among brokers that have issued a report on the stock in the last year is C$11.89.

SGY has been the subject of a number of research reports. BMO Capital Markets increased their price target 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. Acumen Capital raised 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 report on Thursday, August 1st.

Surge Energy Price Performance

Shares of TSE SGY opened at C$6.72 on Friday. Surge Energy has a fifty-two week low of C$5.89 and a fifty-two week high of C$9.77. The firm’s 50-day simple moving average is C$6.87 and its 200 day simple moving average is C$7.07. 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 stock has a market cap of C$674.15 million, a price-to-earnings ratio of 4.15, a PEG ratio of 0.59 and a beta of 2.58.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of C$174.40 million. As a group, research analysts anticipate that Surge Energy will post 0.8567807 earnings per share for the current fiscal year.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Saturday, August 31st will be given a $0.043 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend is Thursday, August 29th. Surge Energy’s dividend payout ratio (DPR) 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.