Topaz Energy Corp. (TSE:TPZ) Receives Average Rating of “Buy” from Analysts

Topaz Energy Corp. (TSE:TPZ) has received a consensus rating of “Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$33.65.

A number of brokerages recently issued reports on TPZ. TD upped their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial lowered Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price target on the stock. in a research report on Monday, March 30th. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, ATB Cormark Capital Markets increased their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th.

Topaz Energy Stock Performance

TPZ traded up C$0.34 on Tuesday, reaching C$30.20. The company had a trading volume of 28,892 shares, compared to its average volume of 591,809. Topaz Energy has a 1 year low of C$24.37 and a 1 year high of C$33.91. The stock has a market capitalization of C$4.67 billion, a PE ratio of 34.71 and a beta of 0.35. The company has a quick ratio of 7.17, a current ratio of 2.93 and a debt-to-equity ratio of 35.87. The stock has a 50-day moving average price of C$31.57 and a 200-day moving average price of C$30.16.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$0.25 earnings per share (EPS) for the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%.The company had revenue of C$88.66 million for the quarter. As a group, research analysts forecast that Topaz Energy 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 Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.35 dividend. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 15th. This represents a $1.40 annualized dividend and a yield of 4.6%. Topaz Energy’s payout ratio is currently 156.32%.

About Topaz Energy

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.