Surge Energy Inc (TSE:SGY) declared a monthly dividend on Thursday, August 30th, TickerTech reports. Stockholders of record on Monday, September 17th will be paid a dividend of 0.0083 per share on Monday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Thursday, August 30th. This is an increase from Surge Energy’s previous monthly dividend of $0.008.

Shares of SGY traded up C$0.01 during midday trading on Friday, hitting C$2.34. The company had a trading volume of 1,021,600 shares, compared to its average volume of 723,241. Surge Energy has a 1 year low of C$1.58 and a 1 year high of C$2.76.

Several equities analysts have recently issued reports on SGY shares. BMO Capital Markets lifted their price objective on Surge Energy from C$3.00 to C$3.25 in a research note on Wednesday, May 16th. CIBC lifted their price objective on Surge Energy from C$2.25 to C$2.75 in a research note on Wednesday, May 16th. National Bank Financial lifted their price objective on Surge Energy from C$3.00 to C$3.25 and gave the company an “outperform” rating in a research note on Wednesday, May 16th. Raymond James reiterated an “outperform” rating and issued a C$3.25 price objective on shares of Surge Energy in a research note on Monday, July 9th. Finally, GMP Securities lifted their price objective on Surge Energy from C$3.00 to C$3.50 in a research note on Wednesday, May 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$3.14.

In related news, Director Keith Elliott Macdonald sold 17,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of C$2.12, for a total transaction of C$37,746.60. Also, Director Paul Colborne bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were acquired at an average price of C$2.39 per share, with a total value of C$47,800.00. In the last 90 days, insiders have purchased 135,911 shares of company stock valued at $322,299.

Surge Energy Company Profile

Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.

See Also: Understanding Price to Earnings Ratio (PE)

Dividend History for Surge Energy (TSE:SGY)

Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.