Topaz Energy (TSE:TPZ) Price Target Raised to C$35.25

Topaz Energy (TSE:TPZ) had its price objective lifted by Canadian Imperial Bank of Commerce from C$34.50 to C$35.25 in a report released on Tuesday morning,BayStreet.CA reports.

A number of other research analysts also recently commented on the stock. 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. BMO Capital Markets raised their target price on shares of Topaz Energy from C$35.50 to C$36.50 in a research report on Tuesday. ATB Cormark Capital Markets boosted their target price on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Raymond James Financial downgraded shares of 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 note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Topaz Energy has an average rating of “Buy” and an average target price of C$34.07.

Topaz Energy Stock Performance

Topaz Energy stock opened at C$31.98 on Tuesday. The firm has a market capitalization of C$4.95 billion, a P/E ratio of 36.76 and a beta of 0.35. The stock has a fifty day moving average price of C$31.48 and a 200 day moving average price of C$30.74. Topaz Energy has a 52 week low of C$24.37 and a 52 week high of C$33.91. The company has a current ratio of 3.48, a quick ratio of 7.17 and a debt-to-equity ratio of 36.22.

Topaz Energy (TSE:TPZ) last released its earnings results on Monday, July 27th. The company reported C$0.29 earnings per share for the quarter. Topaz Energy had a return on equity of 12.16% and a net margin of 48.58%.The firm had revenue of C$115.39 million for the quarter. Equities research analysts anticipate that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.35 per share. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, June 15th. Topaz Energy’s payout ratio is presently 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.