ATB Capital cut shares of Topaz Energy (TSE:TPZ – Free Report) from an overweight rating to a neutral rating in a report published on Wednesday, BayStreet.CA reports. They currently have C$31.00 target price on the stock, up from their prior target price of C$30.00.
Several other equities analysts have also issued reports on TPZ. TD Securities increased their target price on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday. Desjardins lifted their price target on Topaz Energy from C$26.50 to C$28.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group upped their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their price objective on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Finally, Canaccord Genuity Group upped their target price on shares of Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$30.04.
Check Out Our Latest Research Report on TPZ
Topaz Energy Stock Up 0.4 %
Topaz Energy (TSE:TPZ – Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. The company had revenue of C$78.41 million during the quarter, compared to analyst estimates of C$80.00 million. As a group, analysts forecast that Topaz Energy will post 0.2019855 earnings per share for the current fiscal year.
Topaz Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.33 dividend. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Friday, September 13th. Topaz Energy’s dividend 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.
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