Topaz Energy (TSE:TPZ) Price Target Raised to C$36.00

Topaz Energy (TSE:TPZ) had its price objective raised by Scotiabank from C$35.00 to C$36.00 in a report issued on Friday morning,BayStreet.CA reports.

A number of other research firms have also issued reports on TPZ. National Bankshares lifted their price objective on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their price target on shares of Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday, October 23rd. Raymond James set a C$34.00 price target on shares of Topaz Energy and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price target on shares of Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$31.54.

Topaz Energy Stock Performance

Shares of TPZ opened at C$27.12 on Friday. The company has a market capitalization of C$3.93 billion, a PE ratio of 73.30 and a beta of 0.50. The company has a 50-day simple moving average of C$27.57 and a 200-day simple moving average of C$26.48. Topaz Energy has a 52-week low of C$18.59 and a 52-week high of C$29.51. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Friday, December 13th. 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.