Topaz Energy (TSE:TPZ) Price Target Increased to C$33.50 by Analysts at National Bankshares

Topaz Energy (TSE:TPZ) had its price target hoisted by National Bankshares from C$32.50 to C$33.50 in a research note released on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group lifted their price objective 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. Canaccord Genuity Group increased their price target on Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday. CIBC boosted their price objective on Topaz Energy from C$30.00 to C$31.00 in a research report on Wednesday. BMO Capital Markets lifted 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, Royal Bank of Canada upped their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Topaz Energy presently has an average rating of “Buy” and a consensus target price of C$30.04.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$26.92 on Wednesday. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$27.78. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The stock has a market cap of C$3.90 billion, a PE ratio of 72.76 and a beta of 0.50. The business has a 50-day simple moving average of C$26.17 and a 200-day simple moving average of C$24.43.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of C$80.00 million. On average, equities analysts expect that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

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