Brokerages Set Surge Energy Inc. (TSE:SGY) PT at C$11.43

Surge Energy Inc. (TSE:SGY) has been given a consensus rating of “Buy” by the four analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$11.43.

SGY has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Acumen Capital lifted their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Canaccord Genuity Group dropped their price objective on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Finally, Raymond James raised Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th.

Surge Energy Price Performance

SGY stock opened at C$5.47 on Friday. The stock has a market cap of C$548.75 million, a PE ratio of 3.38, a P/E/G ratio of 0.59 and a beta of 2.54. Surge Energy has a 12 month low of C$5.47 and a 12 month high of C$8.91. The company has a 50-day moving average price of C$6.07 and a 200 day moving average price of C$6.64. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.0433 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 9.50%. This is an increase from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s dividend 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.