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

Topaz Energy Corp. (TSE:TPZGet Free Report) has been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$27.00.

Several brokerages recently weighed in on TPZ. Raymond James reduced their price target on shares of Topaz Energy from C$27.00 to C$25.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. Scotiabank dropped their price objective on shares of Topaz Energy from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. CIBC dropped their price objective on shares of Topaz Energy from C$26.50 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Desjardins dropped their price objective on shares of Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, TD Securities raised shares of Topaz Energy from a “hold” rating to a “buy” rating and set a C$24.00 price objective for the company in a research note on Wednesday, December 20th.

Check Out Our Latest Stock Analysis on TPZ

Insider Buying and Selling

In other Topaz Energy news, Director Stephen Phillip Larke purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were bought at an average price of C$18.13 per share, for a total transaction of C$108,781.80. 35.57% of the stock is owned by corporate insiders.

Topaz Energy Trading Up 0.6 %

Topaz Energy stock opened at C$18.81 on Tuesday. The stock has a market cap of C$2.72 billion, a P/E ratio of 58.78 and a beta of 0.47. The company has a debt-to-equity ratio of 32.56, a current ratio of 5.51 and a quick ratio of 7.17. Topaz Energy has a 1 year low of C$17.76 and a 1 year high of C$22.55. The firm’s 50 day moving average price is C$19.14 and its 200-day moving average price is C$20.54.

Topaz Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 29th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.24 annualized dividend and a dividend yield of 6.59%. Topaz Energy’s dividend payout ratio (DPR) is currently 387.50%.

About Topaz Energy

(Get Free Report

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates through two segments: the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6.1 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.

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Analyst Recommendations for Topaz Energy (TSE:TPZ)

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