Surge Energy Inc. (TSE:SGY) Receives C$11.43 Average Target Price from Analysts

Shares of Surge Energy Inc. (TSE:SGY) have earned an average rating of “Buy” from the four brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$11.43.

Several equities research analysts have weighed in on SGY shares. Canaccord Genuity Group cut their price target on Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. National Bankshares upped their target price on Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Cormark upgraded Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. BMO Capital Markets upped their price objective on Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Raymond James raised shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th.

Surge Energy Stock Down 1.8 %

TSE:SGY opened at C$5.47 on Friday. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The company’s fifty day moving average price is C$6.07 and its 200-day moving average price is C$6.64. Surge Energy has a 1-year low of C$5.47 and a 1-year high of C$8.91. The firm has a market capitalization of C$548.75 million, a P/E ratio of 3.38, a PEG ratio of 0.59 and a beta of 2.54.

Surge Energy Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.0433 dividend. The ex-dividend date is Thursday, October 31st. This is a boost 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 9.50%. 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.