Topaz Energy (TSE:TPZ – Free Report) had its price target increased by National Bankshares from C$28.50 to C$32.50 in a report issued on Monday morning, BayStreet.CA reports.
Several other equities research analysts have also recently commented on the company. Jefferies Financial Group raised their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock a buy rating in a research note on Monday, July 15th. Canaccord Genuity Group raised their price objective on shares of Topaz Energy from C$29.00 to C$29.50 and gave the stock a buy rating in a research report on Tuesday, July 30th. Desjardins lifted their price objective on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a buy rating in a research note on Tuesday, July 23rd. Scotiabank increased their target price on shares of Topaz Energy from C$33.00 to C$34.00 in a research note on Friday, July 12th. Finally, CIBC lifted their price target on shares of Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Topaz Energy has a consensus rating of Buy and a consensus price target of C$28.96.
Topaz Energy Price Performance
Topaz Energy (TSE:TPZ – Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported C$0.12 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. As a group, research analysts expect that Topaz Energy will post 0.1817651 EPS for the current year.
Topaz Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 5.04%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is 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.
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