Analysts Set Topaz Energy Corp. (TSE:TPZ) Price Target at C$26.55

Topaz Energy Corp. (TSE:TPZ) has been assigned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$26.86.

Several analysts have recently weighed in on TPZ shares. ATB Capital dropped their price objective on shares of Topaz Energy from C$32.00 to C$30.00 in a report on Tuesday, January 2nd. Canaccord Genuity Group increased their price target on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Jefferies Financial Group set a C$23.00 price target on shares of Topaz Energy and gave the company a “buy” rating in a research note on Tuesday, February 27th. CIBC increased their price target on shares of Topaz Energy from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Desjardins decreased their price target on shares of Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd.

Insider Transactions at Topaz Energy

In other news, Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total transaction of C$4,470,000.00. Insiders own 35.55% of the company’s stock.

Topaz Energy Stock Up 0.2 %

TSE TPZ opened at C$22.40 on Friday. The company has a debt-to-equity ratio of 31.49, a quick ratio of 7.17 and a current ratio of 8.52. The firm has a 50-day simple moving average of C$21.42 and a 200 day simple moving average of C$20.44. Topaz Energy has a twelve month low of C$18.03 and a twelve month high of C$23.17. The stock has a market cap of C$3.24 billion, a PE ratio of 67.67 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last released its earnings results on Monday, March 4th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a net margin of 14.82% and a return on equity of 3.66%. The business had revenue of C$82.78 million during the quarter, compared to analysts’ expectations of C$79.00 million. On average, research analysts forecast that Topaz Energy will post 0.2818351 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.71%. This is a boost from Topaz Energy’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, March 14th. Topaz Energy’s dividend payout ratio (DPR) is currently 387.88%.

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.