Topaz Energy (TSE:TPZ) Given New C$31.00 Price Target at Desjardins

Topaz Energy (TSE:TPZ) had its price objective raised by Desjardins from C$30.00 to C$31.00 in a research report report published on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

TPZ has been the subject of several other reports. National Bankshares increased their price objective on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Scotiabank lifted their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Securities upped their target price on shares of Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday. Finally, CIBC raised their price target on Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Topaz Energy currently has an average rating of “Buy” and an average target price of C$30.04.

Topaz Energy Price Performance

Shares of TPZ opened at C$26.92 on Wednesday. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. Topaz Energy has a 1-year low of C$18.03 and a 1-year high of C$27.78. The stock has a market cap of C$3.90 billion, a PE ratio of 72.76 and a beta of 0.50. The firm has a fifty day moving average price of C$26.17 and a 200 day moving average price of C$24.43.

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, beating the consensus estimate of C$0.07 by C$0.05. The business had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. As a group, sell-side analysts anticipate that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is currently 356.76%.

About Topaz Energy

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.