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

Topaz Energy (TSE:TPZ) had its price objective hoisted by Canaccord Genuity Group from C$28.50 to C$29.00 in a report released on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 18.37% from the stock’s current price.

A number of other research firms have also issued reports on TPZ. 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. 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. BMO Capital Markets boosted their price target on shares of Topaz Energy from C$27.00 to C$29.00 in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of Topaz Energy from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, National Bankshares raised their price objective on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company an “outperform” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Topaz Energy presently has an average rating of “Buy” and a consensus target price of C$27.67.

Topaz Energy Stock Performance

Shares of TSE TPZ traded up C$0.26 during midday trading on Wednesday, hitting C$24.50. The company’s stock had a trading volume of 105,320 shares, compared to its average volume of 277,961. Topaz Energy has a 1-year low of C$18.03 and a 1-year high of C$24.65. The firm’s fifty day moving average price is C$22.83 and its 200-day moving average price is C$21.29. 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 firm has a market cap of C$3.55 billion, a P/E ratio of 76.56 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). The firm had revenue of C$70.88 million for the quarter, compared to analyst estimates of C$78.00 million. Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. On average, sell-side analysts forecast that Topaz Energy will post 0.198902 EPS for the current fiscal year.

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.