Surge Energy Q4 EPS Estimate Increased by Atb Cap Markets

Surge Energy Inc. (TSE:SGY) – Equities researchers at Atb Cap Markets lifted their Q4 2024 earnings per share estimates for shares of Surge Energy in a research note issued to investors on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.25 for the quarter, up from their previous estimate of $0.24.

Other analysts have also recently issued research reports about the company. BMO Capital Markets boosted their target price on Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Acumen Capital boosted their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Raymond James raised shares of Surge Energy to a “moderate buy” rating in a research note on Thursday, October 17th. National Bankshares upped their price target on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Finally, Cormark raised Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$11.43.

Surge Energy Price Performance

SGY stock opened at C$5.65 on Friday. The company has a market cap of C$566.81 million, a PE ratio of 3.49, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The stock has a 50-day moving average price of C$6.11 and a two-hundred day moving average price of C$6.68. Surge Energy has a 12-month low of C$5.51 and a 12-month high of C$8.91.

Surge Energy Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.52 dividend on an annualized basis and a yield of 9.20%. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. Surge Energy’s payout ratio is currently 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.