Secure Energy Added to S&P/TSX Composite Index
Secure Energy Services (SES), a Calgary-based energy services company, has announced that it has been added to the S&P/TSX Composite Index effective December 20, 2021.
The S&P/TSX Composite Index is the flagship index of the Canadian stock market. The index tracks the performance of the largest companies listed on the Toronto Stock Exchange, and serves as a benchmark for the performance of Canadian equities.
Secure Energy also announced that its board of directors has declared a quarterly dividend of C$0.0075 per common share payable on or about January 17, 2022, to shareholders of record on January 1, 2022.
Secure Energy provides state-of-the-art midstream infrastructure and environmental and fluid management to upstream oil and gas companies operating in western Canada, and parts of the United States. (See Analysts’ Top Stocks on TipRanks)
Wall Street’s Take
Last month, Raymond James analyst Andrew Bradford kept a Buy rating on SES and raised its price target to C$7.75 (from C$7.25). This implies 58.8% upside potential.
Consensus among analysts is that SES is a Strong Buy based on eight Buys. The average Secure Energy Services price target of C$7.90 implies 61.9% upside potential to current levels.
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