Topaz Energy (TSE:TPZ) Hits New 1-Year High – Should You Buy?

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$28.21 and last traded at C$27.96, with a volume of 8015 shares trading hands. The stock had previously closed at C$27.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TPZ shares. Scotiabank upped their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on shares of Topaz Energy from C$30.00 to C$32.00 in a report on Wednesday, November 6th. National Bankshares boosted 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 report on Wednesday, October 23rd. ATB Capital downgraded shares of Topaz Energy from an “overweight” rating to a “neutral” rating and increased their price objective for the company from C$30.00 to C$31.00 in a research note 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 note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Topaz Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$31.13.

Topaz Energy Stock Up 1.0 %

The company has a market capitalization of C$4.08 billion, a price-to-earnings ratio of 76.08 and a beta of 0.50. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The company has a 50-day moving average of C$26.61 and a 200-day moving average of C$25.00.

Topaz Energy Dividend Announcement

The business also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, December 13th. 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.