Royal Bank of Canada Increases Topaz Energy (TSE:TPZ) Price Target to C$28.00

Topaz Energy (TSE:TPZ) had its price objective increased by equities researchers at Royal Bank of Canada from C$27.00 to C$28.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.72% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. CIBC raised their target price on Topaz Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus raised their target price on Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. TD Securities raised their target price on Topaz Energy from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. National Bankshares raised their target price on Topaz Energy from C$27.50 to C$28.50 and gave the company an “outperform” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on Topaz Energy from C$27.00 to C$29.00 in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$27.67.

Topaz Energy Price Performance

Shares of TPZ opened at C$24.84 on Wednesday. The business’s 50-day moving average is C$22.92 and its two-hundred day moving average is C$21.34. The company has a market capitalization of C$3.60 billion, a P/E ratio of 77.63 and a beta of 0.50. The company has a debt-to-equity ratio of 30.43, a quick ratio of 7.17 and a current ratio of 2.47. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$24.95.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, April 29th. The company reported C$0.04 earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.03). The company had revenue of C$70.88 million for the quarter, compared to analyst estimates of C$78.00 million. Topaz Energy had a return on equity of 3.62% and a net margin of 14.29%. Research analysts predict that Topaz Energy will post 0.198902 earnings per share for the current year.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.