Topaz Energy Corp. (TSE:TPZ) Given Consensus Recommendation of “Buy” by Analysts

Shares of Topaz Energy Corp. (TSE:TPZ) have received an average rating of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$28.96.

A number of equities analysts have issued reports on the company. CIBC upped their target price on Topaz Energy from C$27.00 to C$30.00 in a report on Monday, July 15th. Canaccord Genuity Group boosted their price target on Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Scotiabank raised their price objective on shares of Topaz Energy from C$33.00 to C$34.00 in a report on Friday, July 12th. Royal Bank of Canada boosted their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Finally, Desjardins raised their price target on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd.

Topaz Energy Trading Up 1.0 %

Shares of Topaz Energy stock opened at C$26.44 on Friday. The firm’s 50 day moving average is C$24.79 and its 200 day moving average is C$22.81. The firm has a market capitalization of C$3.83 billion, a PE ratio of 71.46 and a beta of 0.51. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$26.54. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.05. The firm had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. Equities research analysts forecast that Topaz Energy will post 0.1817651 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio (DPR) is currently 356.76%.

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.