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

Topaz Energy Corp. (TSE:TPZ) has received an average rating of “Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$29.21.

Several research firms have recently commented on TPZ. BMO Capital Markets boosted their price target on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group boosted their target price on shares of Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Scotiabank raised their price target on shares of Topaz Energy from C$33.00 to C$34.00 in a report on Friday, July 12th. CIBC boosted their price objective on shares of Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. Finally, Desjardins raised their target price 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.

Topaz Energy Stock Up 0.1 %

Shares of Topaz Energy stock opened at C$27.04 on Friday. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. The stock has a market cap of C$3.92 billion, a price-to-earnings ratio of 73.08 and a beta of 0.50. The firm’s 50-day moving average is C$26.09 and its two-hundred day moving average is C$24.34. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$27.78.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.07 by C$0.05. The company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. As a group, research analysts expect that Topaz Energy will post 0.2019855 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.88%. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is currently 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.