Topaz Energy (TSE:TPZ) Reaches New 1-Year High – Here’s Why

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during trading on Thursday . The stock traded as high as C$27.24 and last traded at C$27.19, with a volume of 16623 shares traded. The stock had previously closed at C$26.97.

Analyst Ratings Changes

Several brokerages have issued reports on TPZ. Canaccord Genuity Group boosted their target price on Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Scotiabank boosted their price target on shares of Topaz Energy from C$33.00 to C$34.00 in a research report on Friday, July 12th. Desjardins raised their price objective on shares of Topaz Energy from C$26.50 to C$28.50 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, TD Securities boosted their target price on shares of Topaz Energy from C$27.00 to C$28.00 in a report on Tuesday, October 1st. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$29.21.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The company has a market cap of C$4.01 billion, a PE ratio of 74.78 and a beta of 0.50. The business’s 50-day moving average is C$25.88 and its 200 day moving average is C$24.16.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) 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 business had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. On average, equities research analysts predict that Topaz Energy Corp. will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is currently 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.