Topaz Energy (TSE:TPZ) Price Target Raised to C$32.00 at Royal Bank of Canada

Topaz Energy (TSE:TPZ) had its price objective boosted by Royal Bank of Canada from C$30.00 to C$32.00 in a research report report published on Wednesday, BayStreet.CA reports.

A number of other research firms also recently weighed in on TPZ. BMO Capital Markets lifted their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Raymond James set a C$34.00 target price on shares of Topaz Energy and gave the company an “outperform” rating in a research report on Tuesday, October 29th. TD Securities increased their price target on shares of Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. National Bankshares lifted their price objective on 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, ATB Capital cut Topaz Energy from an “overweight” rating to a “neutral” rating and increased their target price for the stock from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$31.13.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$27.94 on Wednesday. Topaz Energy has a 12 month low of C$18.03 and a 12 month high of C$28.13. The company has a market capitalization of C$4.05 billion, a P/E ratio of 75.51 and a beta of 0.50. The stock has a 50 day moving average of C$26.35 and a two-hundred day moving average of C$24.75. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52.

Topaz Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.33 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.72%. Topaz Energy’s dividend payout ratio (DPR) is presently 356.76%.

Topaz Energy Company Profile

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.