Surge Energy (TSE:SGY) Sets New 12-Month High - Here's Why

Key Points

• Surge Energy reached a new 52-week high, trading as high as C$13.39 and closing near C$13.35, up 0.7% with 410,388 shares traded.
• Analyst sentiment is positive: ATB Cormark raised its price target to C$15.00 with an “outperform” rating, while five analysts maintain Buy ratings and the consensus target is C$13.65.
• The company reported quarterly EPS of C$0.68 on C$191.22 million in revenue and announced a monthly dividend of $0.0433 per share, equivalent to a 3.9% annualized yield.

Surge Energy Inc. (TSE:SGY - Get Free Report) hit a new 52-week high on Monday. The company traded as high as C$13.39 and last traded at C$13.35, with a volume of 410,388 shares changing hands. The stock had previously closed at C$13.24.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets increased their target price on Surge Energy from C$13.00 to C$15.00 and gave the company an "outperform" rating in a report on Thursday, September 17th. Five research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$13.65.

Surge Energy Stock Up 0.7%

The company's 50 day moving average price is C$11.65 and its two-hundred day moving average price is C$10.37. The company has a current ratio of 1.04, a quick ratio of 0.40 and a debt-to-equity ratio of 31.11. The firm has a market cap of C$1.32 billion, a PE ratio of 30.30, a PEG ratio of 0.59 and a beta of -0.26.

Surge Energy (TSE:SGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.68 EPS for the quarter. The business had revenue of C$191.22 million for the quarter. Surge Energy had a return on equity of 6.18% and a net margin of 8.01%.

Surge Energy Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a dividend of $0.0433 per share. This represents a $0.52 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, July 31st. Surge Energy's dividend payout ratio is presently 118.18%.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.

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