Topaz Energy (TSE:TPZ) Price Target Raised to C$29.00 at Canaccord Genuity Group

Topaz Energy (TSE:TPZ) had its price target upped by equities research analysts at Canaccord Genuity Group from C$28.50 to C$29.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 16.75% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. National Bankshares boosted their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Topaz Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Stifel Nicolaus boosted their target price on shares of Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group boosted their target price on shares of Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, CIBC boosted their target price on shares of Topaz Energy from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$27.67.

Topaz Energy Stock Performance

Topaz Energy stock opened at C$24.84 on Wednesday. The stock’s 50 day simple moving average is C$22.92 and its two-hundred day simple moving average is C$21.34. The company has a debt-to-equity ratio of 30.43, a quick ratio of 7.17 and a current ratio of 2.47. The stock has a market cap of C$3.60 billion, a price-to-earnings ratio of 77.63 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$24.95.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings results on Monday, April 29th. The company reported C$0.04 EPS for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). Topaz Energy had a return on equity of 3.62% and a net margin of 14.29%. The company had revenue of C$70.88 million during the quarter, compared to the consensus estimate of C$78.00 million. As a group, analysts expect that Topaz Energy will post 0.198902 earnings per share for the current fiscal year.

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.