Topaz Energy (TSE:TPZ) Reaches New 12-Month High – Here’s Why

Topaz Energy Corp. (TSE:TPZ)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$27.24 and last traded at C$27.19, with a volume of 16623 shares traded. The stock had previously closed at C$26.97.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TPZ shares. Royal Bank of Canada upped their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. CIBC upped their price objective on shares of Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. 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 note on Tuesday, July 23rd. Canaccord Genuity Group increased their price target on Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Scotiabank raised their price target on Topaz Energy from C$33.00 to C$34.00 in a report on Friday, July 12th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$29.21.

Topaz Energy Stock Performance

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 has a market cap of C$3.97 billion, a P/E ratio of 73.81 and a beta of 0.51. The firm has a fifty day moving average of C$25.78 and a 200-day moving average of C$24.10.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The business had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. Research analysts predict that Topaz Energy Corp. will post 0.184685 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.82%. 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 presently 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.