Topaz Energy (TSE:TPZ) Reaches New 12-Month High – Here’s Why

Topaz Energy Corp. (TSE:TPZ) shares reached a new 52-week high on Tuesday . The stock traded as high as C$33.91 and last traded at C$33.46, with a volume of 29749 shares traded. The stock had previously closed at C$33.15.

Analyst Upgrades and Downgrades

TPZ has been the subject of several research analyst reports. Desjardins upped their price target on shares of Topaz Energy from C$31.00 to C$32.50 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Canaccord Genuity Group upped their price objective on shares of Topaz Energy from C$33.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. TD upped their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial cut shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price objective for the company. in a research note on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$33.65.

Topaz Energy Stock Performance

The company has a market cap of C$5.15 billion, a PE ratio of 38.21 and a beta of 0.21. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93. The firm’s 50 day moving average is C$31.28 and its 200-day moving average is C$29.18.

Topaz Energy (TSE:TPZ) last announced 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 net margin of 45.79% and a return on equity of 10.95%. The company had revenue of C$88.66 million during the quarter. On average, research analysts anticipate that Topaz Energy Corp. will post 0.2019855 earnings per share for the current fiscal year.

Topaz Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 4.1%. Topaz Energy’s dividend payout ratio is 156.32%.

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.