Analysts Set Topaz Energy Corp. (TSE:TPZ) Price Target at C$29.21

Topaz Energy Corp. (TSE:TPZ) has earned an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$29.21.

A number of research firms recently issued reports on TPZ. BMO Capital Markets raised their price target on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Scotiabank increased their price objective on Topaz Energy from C$33.00 to C$34.00 in a research report on Friday, July 12th. TD Securities boosted their target price on Topaz Energy from C$27.00 to C$28.00 in a report on Tuesday, October 1st. Jefferies Financial Group increased their price target on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Canaccord Genuity Group lifted their price objective on shares of Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a research report on Tuesday, July 30th.

Topaz Energy Price Performance

TPZ stock opened at C$26.82 on Friday. The business has a 50 day simple moving average of C$25.93 and a 200-day simple moving average of C$24.23. The company has a market capitalization of C$3.89 billion, a P/E ratio of 72.68 and a beta of 0.50. Topaz Energy has a twelve month low of C$18.03 and a twelve month high of C$27.78. 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 issued its quarterly 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. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The firm had revenue of C$78.41 million during the quarter, compared to analysts’ expectations of C$80.00 million. As a group, equities analysts anticipate that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was 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.