Topaz Energy (TSE:TPZ) Price Target Raised to C$26.00

Topaz Energy (TSE:TPZ) had its price objective boosted by CIBC from C$24.00 to C$26.00 in a research note issued to investors on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research firms have also commented on TPZ. Scotiabank lowered their target price on shares of Topaz Energy from C$32.00 to C$30.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Canaccord Genuity Group lifted their price objective on Topaz Energy from C$27.50 to C$28.50 and gave the stock a buy rating in a research note on Tuesday, March 5th. TD Securities increased their target price on Topaz Energy from C$24.00 to C$25.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Raymond James reduced their target price on Topaz Energy from C$27.00 to C$25.00 and set a strong-buy rating on the stock in a report on Friday, January 19th. Finally, National Bankshares lowered their price target on Topaz Energy from C$30.00 to C$27.50 and set an outperform rating for the company in a research note on Wednesday, January 10th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Topaz Energy currently has an average rating of Buy and a consensus price target of C$26.86.

Topaz Energy Stock Performance

TSE TPZ opened at C$22.24 on Monday. The company has a 50 day moving average of C$21.50 and a 200-day moving average of C$20.45. The company has a current ratio of 8.52, a quick ratio of 7.17 and a debt-to-equity ratio of 31.49. Topaz Energy has a 1-year low of C$18.03 and a 1-year high of C$23.17. The firm has a market cap of C$3.22 billion, a price-to-earnings ratio of 67.82 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, March 4th. The company reported C$0.13 EPS 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 for the quarter, compared to analysts’ expectations of C$79.00 million. On average, equities analysts forecast that Topaz Energy will post 0.2818351 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.76%. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, March 14th. Topaz Energy’s payout ratio is presently 387.88%.

Insider Buying and Selling at Topaz Energy

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

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.