CIBC Increases Topaz Energy (TSE:TPZ) Price Target to C$32.00

Topaz Energy (TSE:TPZ) had its target price upped by CIBC from C$31.00 to C$32.00 in a report released on Friday,BayStreet.CA reports.

TPZ has been the topic of a number of other reports. Desjardins raised their target price on shares of Topaz Energy from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their price objective on Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday, October 23rd. TD Securities raised their target price on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. National Bankshares boosted their target price on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Scotiabank increased their price target on Topaz Energy from C$35.00 to C$36.00 in a report on Friday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.54.

Topaz Energy Price Performance

Topaz Energy stock opened at C$27.12 on Friday. The company has a fifty day simple moving average of C$27.57 and a 200-day simple moving average of C$26.44. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The firm has a market capitalization of C$3.93 billion, a price-to-earnings ratio of 73.30 and a beta of 0.50. Topaz Energy has a 52-week low of C$18.59 and a 52-week high of C$29.51.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 4.87%. 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.