Royal Bank of Canada Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its price target boosted by Royal Bank of Canada from C$30.00 to C$32.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

A number of other research analysts also recently weighed in on the company. ATB Capital downgraded Topaz Energy from an “overweight” rating to a “neutral” rating and increased their price target for the company from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. BMO Capital Markets increased their target price on Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Scotiabank boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. National Bankshares increased their price target on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Securities boosted their price objective on shares of Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$31.13.

Topaz Energy Trading Up 1.0 %

TPZ opened at C$27.94 on Wednesday. The firm has a 50 day simple moving average of C$26.35 and a 200 day simple moving average of C$24.75. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$28.13. The company has a market cap of C$4.05 billion, a price-to-earnings ratio of 75.51 and a beta of 0.50. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 4.72%. Topaz Energy’s dividend 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.