Topaz Energy Corp. (TSE:TPZ) Receives C$26.55 Consensus PT from Analysts

Shares of Topaz Energy Corp. (TSE:TPZ) have earned an average rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$26.86.

Several equities analysts have recently issued reports on TPZ shares. Canaccord Genuity Group boosted their price target on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, March 5th. TD Securities upped their target price on shares of Topaz Energy from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. BMO Capital Markets set a C$27.00 price target on Topaz Energy and gave the company an “outperform” rating in a report on Wednesday, March 13th. Jefferies Financial Group set a C$23.00 price objective on Topaz Energy and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Desjardins lowered their target price on Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd.

Topaz Energy Price Performance

TPZ opened at C$22.68 on Friday. The company has a quick ratio of 7.17, a current ratio of 8.52 and a debt-to-equity ratio of 31.49. The company’s 50-day moving average price is C$21.69 and its 200 day moving average price is C$20.48. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$23.17. The firm has a market cap of C$3.28 billion, a price-to-earnings ratio of 68.73 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, March 4th. The company reported C$0.13 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. The business had revenue of C$82.78 million for the quarter, compared to analysts’ expectations of C$79.00 million. As a group, sell-side analysts expect that Topaz Energy will post 0.2818351 earnings per share for the current year.

Topaz Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.31. Topaz Energy’s payout ratio is currently 387.88%.

Insider Activity

In related news, Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total transaction of C$4,470,000.00. Insiders own 35.55% of the company’s stock.

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.