Topaz Energy (TSE:TPZ) Price Target Raised to C$31.00

Topaz Energy (TSE:TPZ) had its price target raised by Desjardins from C$30.00 to C$31.00 in a report published on Wednesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other analysts also recently commented on TPZ. TD Securities raised their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research report on Wednesday. CIBC upped their target price on Topaz Energy from C$30.00 to C$31.00 in a research note 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 stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their price target 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. Finally, Royal Bank of Canada raised 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 report on Wednesday, July 3rd. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Topaz Energy currently has a consensus rating of “Buy” and an average target price of C$30.04.

Topaz Energy Price Performance

TSE:TPZ opened at C$27.31 on Wednesday. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. Topaz Energy has a one year low of C$18.03 and a one year high of C$27.78. The company has a fifty day moving average price of C$26.22 and a 200 day moving average price of C$24.48. The stock has a market cap of C$3.96 billion, a P/E ratio of 73.81 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings data on Monday, July 29th. The company reported C$0.12 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The business had revenue of C$78.41 million during the quarter, compared to analyst estimates of C$80.00 million. Analysts anticipate that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.33 per share. The ex-dividend date was Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio (DPR) is 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.