Scotiabank Issues Positive Forecast for Topaz Energy (TSE:TPZ) Stock Price

Topaz Energy (TSE:TPZ) had its price target hoisted by Scotiabank from C$35.00 to C$36.00 in a research report report published on Friday,BayStreet.CA reports.

A number of other research firms also recently issued reports on TPZ. National Bankshares lifted their price target on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price objective on Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. Desjardins upped their target price on Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised their price target on Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday, October 23rd. Finally, CIBC boosted their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Topaz Energy presently has an average rating of “Moderate Buy” and an average target price of C$31.54.

Topaz Energy Stock Performance

TSE:TPZ opened at C$27.12 on Friday. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. Topaz Energy has a fifty-two week low of C$18.59 and a fifty-two week high of C$29.51. The firm’s fifty day simple moving average is C$27.57 and its 200-day simple moving average is C$26.44. The stock has a market cap of C$3.93 billion, a PE ratio of 73.30 and a beta of 0.50.

Topaz Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Friday, December 13th. Topaz Energy’s dividend payout ratio 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.