Topaz Energy (TSE:TPZ) Sets New 1-Year High – Should You Buy?

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high on Thursday . The company traded as high as C$29.02 and last traded at C$29.02, with a volume of 4020 shares trading hands. The stock had previously closed at C$28.55.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPZ. National Bankshares increased their target price on shares of Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. CIBC increased their price objective on Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. TD Securities lifted their target price on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets boosted their target price on 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. Finally, ATB Capital lowered Topaz Energy from an “overweight” rating to a “neutral” rating and increased their price target for the company from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$31.13.

Topaz Energy Trading Up 0.2 %

The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The firm has a market cap of C$4.25 billion, a PE ratio of 79.19 and a beta of 0.50. The business has a fifty day moving average price of C$26.88 and a 200 day moving average price of C$25.17.

Topaz Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.50%. 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.