Topaz Energy Corp. (TSE:TPZ) Receives C$28.96 Average Price Target from Analysts

Shares of Topaz Energy Corp. (TSE:TPZ) 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.

Topaz Energy Stock Down 0.2 %

Topaz Energy stock opened at C$26.70 on Friday. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$26.93. The firm has a fifty day moving average price of C$25.12 and a two-hundred day moving average price of C$23.08. The firm has a market cap of C$3.87 billion, a price-to-earnings ratio of 72.16 and a beta of 0.51.

Topaz Energy (TSE:TPZ) 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.