Topaz Energy (TSE:TPZ) Announces Quarterly Earnings Results

Topaz Energy (TSE:TPZ) announced its quarterly earnings data on Monday. The company reported C$0.32 earnings per share for the quarter, FiscalAI reports. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. The firm had revenue of C$87.19 million for the quarter.

Topaz Energy Stock Performance

TPZ opened at C$30.14 on Tuesday. Topaz Energy has a 1-year low of C$24.52 and a 1-year high of C$33.91. The company has a market cap of C$4.68 billion, a price-to-earnings ratio of 32.41 and a beta of 0.47. The company’s fifty day moving average price is C$30.34 and its two-hundred day moving average price is C$30.72. The company has a current ratio of 3.48, a quick ratio of 7.17 and a debt-to-equity ratio of 36.22.

Topaz Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.40 annualized dividend and a yield of 4.6%. Topaz Energy’s dividend payout ratio is presently 147.31%.

Analysts Set New Price Targets

Several brokerages have recently commented on TPZ. BMO Capital Markets raised their target price on Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday, July 28th. 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$34.07.

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.