Topaz Energy (TSE:TPZ) PT Raised to C$31.00 at CIBC

Topaz Energy (TSE:TPZ) had its price target increased by CIBC from C$30.00 to C$31.00 in a research note released on Wednesday morning, BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Desjardins boosted their price target 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. Jefferies Financial Group lifted their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. National Bankshares upped their target price on Topaz Energy from C$28.50 to C$32.50 in a research report on Monday, August 19th. TD Securities raised their price target on Topaz Energy from C$27.00 to C$28.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets boosted their price objective on 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. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$30.04.

Topaz Energy Price Performance

Shares of TPZ opened at C$27.31 on Wednesday. The company has a market cap of C$3.96 billion, a P/E ratio of 73.81 and a beta of 0.50. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two 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 firm’s 50 day moving average price is C$26.22 and its 200 day moving average price is C$24.48.

Topaz Energy (TSE:TPZ) last issued 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 firm had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. On average, research 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 announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 4.83%. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is presently 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.