Topaz Energy Corp. (TSE:TPZ) Receives C$28.96 Average Target Price from Analysts

Topaz Energy Corp. (TSE:TPZ) has earned an average recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$28.96.

Several equities analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Canaccord Genuity Group increased their price target on shares of 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. Desjardins boosted their price target on shares of Topaz Energy from C$26.50 to C$28.50 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased 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. Finally, National Bankshares increased their price objective on shares of Topaz Energy from C$28.50 to C$32.50 in a research report on Monday, August 19th.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$25.19 on Wednesday. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$26.93. 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 stock has a market cap of C$3.65 billion, a PE ratio of 68.08 and a beta of 0.51. The business has a 50-day simple moving average of C$25.48 and a 200-day simple moving average of C$23.67.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of C$78.41 million during the quarter, compared to analysts’ expectations of C$80.00 million. On average, equities analysts expect that Topaz Energy will post 0.183663 EPS for the current year.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 13th. Topaz Energy’s dividend payout ratio (DPR) 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.