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Investment analysts at TD Securities reduced their price target on shares of Surge Energy (TSE:SGY) from C$8.50 to C$8.00 in a note issued to investors on Wednesday, ARN reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 35.14% from the company’s current price.

Shares of Surge Energy (TSE:SGY) traded up 2.53% on Wednesday, hitting $6.07. 4,245,559 shares of the company’s stock traded hands. Surge Energy has a 52 week low of $2.68 and a 52 week high of $7.30. The stock’s 50-day moving average is $6.50 and its 200-day moving average is $6.25.

The company also recently declared a Monthly dividend, which is scheduled for Monday, February 17th. Shareholders of record on Monday, February 17th will be given a dividend of 0.0433 per share. This represents a yield of 7.96%. The ex-dividend date of this dividend is Wednesday, January 29th.

Other equities research analysts have also recently issued reports about the stock. Analysts at National Bank Financial reiterated an “outperform” rating on shares of Surge Energy in a research note to investors on Wednesday. They now have a C$8.50 price target on the stock. Separately, analysts at NBF initiated coverage on shares of Surge Energy in a research note to investors on Wednesday. They set an “outperform” rating and a C$8.50 price target on the stock. Finally, analysts at CIBC reiterated a “sector outperform” rating on shares of Surge Energy in a research note to investors on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Surge Energy has an average rating of “Buy” and an average target price of C$7.81.

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