Topaz Energy (TSE:TPZ – Free Report) had its price objective raised by Scotiabank from C$34.00 to C$35.00 in a research report released on Tuesday morning, BayStreet.CA reports.
Several other research analysts have also recently weighed in on TPZ. National Bankshares lifted their price target on Topaz Energy from C$28.50 to C$32.50 in a research report on Monday, August 19th. TD Securities upped their price target on Topaz Energy from C$27.00 to C$28.00 in a report on Tuesday, October 1st. Desjardins lifted their target price on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets raised their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Canaccord Genuity Group boosted their price objective on Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$29.29.
Read Our Latest Research Report on TPZ
Topaz Energy Stock Performance
Topaz Energy (TSE:TPZ – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.12 EPS for the quarter, beating the consensus estimate of C$0.07 by C$0.05. The company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. As a group, analysts predict that Topaz Energy will post 0.2019855 earnings per share for the current year.
Topaz Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.88%. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio 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.
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