Topaz Energy (TSE:TPZ) Sets New 52-Week High – Time to Buy?

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high on Thursday . The stock traded as high as C$29.02 and last traded at C$29.02, with a volume of 4020 shares. The stock had previously closed at C$28.55.

Analysts Set New Price Targets

Several research analysts recently commented on TPZ shares. BMO Capital Markets raised their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. CIBC raised their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. ATB Capital downgraded shares of Topaz Energy from an “overweight” rating to a “neutral” rating and raised their price target for the stock from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 6th. Finally, National Bankshares raised their target price on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$31.13.

Topaz Energy Trading Up 2.8 %

The business’s 50 day moving average is C$26.80 and its two-hundred day moving average is C$25.14. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The firm has a market capitalization of C$4.25 billion, a P/E ratio of 79.19 and a beta of 0.50.

Topaz Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Friday, December 13th. Topaz Energy’s payout ratio is currently 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.