Stifel Nicolaus Boosts Topaz Energy (TSE:TPZ) Price Target to C$27.00

Topaz Energy (TSE:TPZ) had its target price increased by Stifel Nicolaus from C$25.00 to C$27.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

TPZ has been the subject of several other research reports. ATB Capital cut their price target on Topaz Energy from C$32.00 to C$30.00 in a research note on Tuesday, January 2nd. Raymond James cut their price objective on Topaz Energy from C$27.00 to C$25.00 and set a strong-buy rating for the company in a research note on Friday, January 19th. Jefferies Financial Group set a C$23.00 price objective on Topaz Energy and gave the stock a buy rating in a research note on Tuesday, February 27th. TD Securities upped their price target on Topaz Energy from C$24.00 to C$25.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, CIBC upped their price target on Topaz Energy from C$24.00 to C$26.00 and gave the company an outperform rating in a research report on Monday. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of C$26.86.

Topaz Energy Price Performance

Shares of Topaz Energy stock opened at C$22.50 on Tuesday. The company has a quick ratio of 7.17, a current ratio of 8.52 and a debt-to-equity ratio of 31.49. Topaz Energy has a twelve month low of C$18.03 and a twelve month high of C$23.17. The business has a 50-day moving average price of C$21.56 and a 200 day moving average price of C$20.46. The firm has a market cap of C$3.26 billion, a PE ratio of 68.18 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last announced its quarterly 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 return on equity of 3.66% and a net margin of 14.82%. The firm had revenue of C$82.78 million during the quarter, compared to analyst estimates of C$79.00 million. Sell-side analysts predict that Topaz Energy will post 0.2818351 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 5.69%. Topaz Energy’s dividend payout ratio is currently 387.88%.

Insiders Place Their Bets

In other Topaz Energy news, Director Stephen Phillip Larke sold 200,000 shares of the company’s stock in a transaction on 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. 35.55% of the stock is owned by insiders.

About Topaz Energy

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.