Topaz Energy Corp. (TSE:TPZ) Receives C$26.54 Consensus Target Price from Brokerages

Topaz Energy Corp. (TSE:TPZGet Rating) has been given an average rating of “Buy” by the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$26.54.

A number of brokerages have recently weighed in on TPZ. Scotiabank lifted their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Thursday, April 7th. CIBC lifted their target price on shares of Topaz Energy from C$23.00 to C$26.00 in a research note on Thursday, April 14th. Raymond James set a C$27.00 target price on shares of Topaz Energy and gave the company a “strong-buy” rating in a research note on Wednesday, May 4th. Royal Bank of Canada lifted their target price on shares of Topaz Energy from C$27.50 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, May 4th. Finally, National Bankshares cut their target price on shares of Topaz Energy from C$27.50 to C$25.00 in a research note on Thursday, April 14th.

TPZ stock opened at C$20.33 on Thursday. The firm’s 50-day moving average price is C$22.91 and its two-hundred day moving average price is C$20.27. Topaz Energy has a 12-month low of C$14.90 and a 12-month high of C$24.80. The stock has a market capitalization of C$2.84 billion and a price-to-earnings ratio of 81.00. The company has a current ratio of 3.07, a quick ratio of 3.02 and a debt-to-equity ratio of 18.67.

Topaz Energy (TSE:TPZGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). The business had revenue of C$81.34 million for the quarter, compared to analysts’ expectations of C$81.50 million. Equities analysts predict that Topaz Energy will post 0.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 30th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.12%. The ex-dividend date is Tuesday, June 14th. Topaz Energy’s payout ratio is currently 362.55%.

In other news, Director Mike Rose bought 10,000 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of C$23.31 per share, for a total transaction of C$233,128.00. Following the completion of the purchase, the director now owns 433,470 shares in the company, valued at approximately C$10,105,399.42.

About Topaz Energy (Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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