Surge Energy (TSE:SGY) Hits New 12-Month High – Should You Buy?

Surge Energy Inc. (TSE:SGY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$12.42 and last traded at C$12.24, with a volume of 34177 shares traded. The stock had previously closed at C$12.16.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SGY. Canaccord Genuity Group upped their price target on Surge Energy from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Raymond James Financial lifted their price objective on Surge Energy from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. National Bank Financial boosted their target price on Surge Energy from C$12.75 to C$13.50 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Acumen Capital upped their target price on Surge Energy from C$13.25 to C$13.75 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, ATB Cormark Capital Markets raised their price target on Surge Energy from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$13.25.

Surge Energy Price Performance

The company has a debt-to-equity ratio of 31.11, a quick ratio of 0.40 and a current ratio of 1.04. The stock has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 0.59 and a beta of -0.43. The company has a 50-day moving average of C$10.42 and a 200-day moving average of C$9.67.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, July 29th. The company reported C$0.68 EPS for the quarter. The firm 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 company also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were issued a $0.0433 dividend. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, July 31st. Surge Energy’s dividend payout ratio is 118.18%.

Surge Energy Company Profile

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.