Topaz Energy Corp. (TSE:TPZ) Receives C$34.07 Consensus PT from Brokerages

Topaz Energy Corp. (TSE:TPZ) has been assigned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$34.07.

Several analysts have recently commented on the company. TD raised their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce increased their price target on Topaz Energy from C$34.50 to C$35.25 in a report on Tuesday, July 28th. ATB Cormark Capital Markets raised their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, BMO Capital Markets boosted their price objective on Topaz Energy from C$35.50 to C$36.50 in a report on Tuesday, July 28th.

Topaz Energy Stock Down 1.1%

Topaz Energy stock opened at C$31.94 on Wednesday. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22. Topaz Energy has a 12-month low of C$24.37 and a 12-month high of C$33.91. The firm’s fifty day moving average is C$31.06 and its 200 day moving average is C$31.12. The company has a market capitalization of C$4.95 billion, a PE ratio of 34.34 and a beta of 0.34.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 27th. The company reported C$0.29 EPS for the quarter. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. The business had revenue of C$115.39 million during the quarter. As a group, sell-side analysts predict that Topaz Energy will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. Topaz Energy’s payout ratio is 147.31%.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.