Topaz Energy (TSE:TPZ) Sets New 52-Week High – Time to Buy?

Topaz Energy Corp. (TSE:TPZ) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$29.02 and last traded at C$29.02, with a volume of 4020 shares changing hands. The stock had previously closed at C$28.55.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 6th. Raymond James set a C$34.00 price objective on shares of Topaz Energy and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Desjardins boosted their price objective on shares of Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group upped their price target on shares of Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday, October 23rd. Finally, ATB Capital cut shares of Topaz Energy from an “overweight” rating to a “neutral” rating and upped their price target for the stock from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.13.

Topaz Energy Stock Performance

The stock has a market capitalization of C$4.25 billion, a price-to-earnings ratio of 79.19 and a beta of 0.50. The stock’s 50 day moving average is C$26.80 and its 200 day moving average is C$25.14. 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 4.50%. 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.