Shares of Topaz Energy Corp. (TSE:TPZ – Get Free Report) have earned an average rating of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com 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 analysts that have issued ratings on the stock in the last year is C$28.96.
A number of brokerages have commented on TPZ. Scotiabank raised their price target on shares of Topaz Energy from C$33.00 to C$34.00 in a research note on Friday, July 12th. BMO Capital Markets raised their target price on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. CIBC upped their price target on Topaz Energy from C$27.00 to C$30.00 in a research report on Monday, July 15th. Royal Bank of Canada increased 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. Finally, Jefferies Financial Group boosted their target price on shares of 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.
Read Our Latest Research Report on TPZ
Topaz Energy Stock Down 0.2 %
Topaz Energy (TSE:TPZ – Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. The company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. As a group, analysts forecast that Topaz Energy will post 0.1930068 earnings per share for the current year.
Topaz Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a dividend of $0.33 per share. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.32 annualized dividend and a yield of 4.94%. Topaz Energy’s dividend payout ratio is 356.76%.
About Topaz Energy
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.
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