Analysts Set Topaz Energy Corp. (TSE:TPZ) Price Target at C$32.81

Shares of Topaz Energy Corp. (TSE:TPZ) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$33.28.

Several brokerages recently commented on TPZ. TD Securities lifted their price objective on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce increased their price objective on shares of Topaz Energy from C$29.00 to C$33.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Raymond James Financial lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada lifted their price target on shares of Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Finally, Scotiabank raised Topaz Energy to a “strong-buy” rating in a research note on Friday, November 28th.

Topaz Energy Stock Down 1.6%

Topaz Energy stock opened at C$31.29 on Wednesday. Topaz Energy has a 12 month low of C$21.00 and a 12 month high of C$32.16. The stock has a fifty day simple moving average of C$28.43 and a two-hundred day simple moving average of C$26.92. The firm has a market cap of C$4.81 billion, a price-to-earnings ratio of 84.57 and a beta of 0.27. The company has a current ratio of 11.26, a quick ratio of 7.17 and a debt-to-equity ratio of 37.54.

Topaz Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.34 per share. The ex-dividend date is Friday, March 13th. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. Topaz Energy’s dividend payout ratio is 362.16%.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.