Topaz Energy (TSE:TPZ) Rating Increased to Strong-Buy at Scotiabank

Scotiabank upgraded shares of Topaz Energy (TSE:TPZ) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. Raymond James Financial downgraded Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price for the company. in a research note on Monday. National Bank Financial set a C$33.50 price objective on Topaz Energy and gave the company an “outperform” rating in a research note on Friday, January 9th. Royal Bank Of Canada lifted their price objective on Topaz Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. TD Securities raised their price target on shares of Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Desjardins upped their price target on shares of Topaz Energy from C$31.00 to C$32.50 and gave the company a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Topaz Energy currently has an average rating of “Buy” and a consensus price target of C$33.28.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$30.21 on Wednesday. The firm has a fifty day simple moving average of C$30.20 and a 200-day simple moving average of C$27.83. The company has a market capitalization of C$4.67 billion, a PE ratio of 36.40 and a beta of 0.21. Topaz Energy has a twelve month low of C$21.00 and a twelve month high of C$32.46. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, March 13th. Topaz Energy’s dividend payout ratio (DPR) is currently 162.65%.

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.