Canaccord Genuity Group Boosts Topaz Energy (TSE:TPZ) Price Target to C$31.00

Topaz Energy (TSE:TPZ) had its price target raised by Canaccord Genuity Group from C$29.50 to C$31.00 in a research report report published on Wednesday, BayStreet.CA reports.

Several other brokerages have also commented on TPZ. CIBC raised their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday. National Bankshares increased their price objective on shares of Topaz Energy from C$28.50 to C$32.50 in a report on Monday, August 19th. Scotiabank boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Financial Group increased their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$30.04.

Topaz Energy Price Performance

Shares of TSE:TPZ opened at C$27.31 on Wednesday. The company has a market cap of C$3.96 billion, a PE ratio of 73.81 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$27.78. The firm has a 50-day simple moving average of C$26.22 and a 200 day simple moving average of C$24.48. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52.

Topaz Energy (TSE:TPZ) last issued its earnings results 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. The company had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. On average, sell-side analysts anticipate that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a $0.33 dividend. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. 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%. Topaz Energy’s dividend payout ratio is currently 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.