Topaz Energy Corp. (TSE:TPZ) Receives C$26.55 Consensus PT from Analysts

Topaz Energy Corp. (TSE:TPZ) has been given a consensus recommendation of “Buy” by the ten research firms that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is C$26.86.

A number of brokerages recently issued reports on TPZ. Canaccord Genuity Group increased their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. BMO Capital Markets set a C$27.00 target price on shares of Topaz Energy and gave the company an “outperform” rating in a research note on Wednesday, March 13th. CIBC increased their price target on Topaz Energy from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Raymond James dropped their price target on Topaz Energy from C$27.00 to C$25.00 and set a “strong-buy” rating for the company in a report on Friday, January 19th. Finally, Scotiabank reduced their price objective on Topaz Energy from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th.

Insider Activity

In related news, Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total value of C$4,470,000.00. 35.55% of the stock is currently owned by insiders.

Topaz Energy Stock Up 0.8 %

TSE TPZ opened at C$22.68 on Friday. Topaz Energy has a 1-year low of C$18.03 and a 1-year high of C$23.17. The company has a market capitalization of C$3.28 billion, a price-to-earnings ratio of 68.73 and a beta of 0.48. The stock’s 50 day moving average is C$21.69 and its two-hundred day moving average is C$20.48. The company has a current ratio of 8.52, a quick ratio of 7.17 and a debt-to-equity ratio of 31.49.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, March 4th. The company reported C$0.13 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. The business had revenue of C$82.78 million for the quarter, compared to analyst estimates of C$79.00 million. Equities analysts forecast that Topaz Energy will post 0.2818351 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.32 dividend. This is a boost from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, March 14th. Topaz Energy’s dividend payout ratio (DPR) is 387.88%.

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.