Desjardins Cuts Topaz Energy (TSE:TPZ) Price Target to C$29.50

Topaz Energy (TSE:TPZ) had its price target reduced by Desjardins from C$32.00 to C$29.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on TPZ. CIBC upped their target price on shares of Topaz Energy from C$31.00 to C$32.00 in a research note on Friday, January 17th. Scotiabank upped their target price on shares of Topaz Energy from C$35.00 to C$36.00 in a research note on Friday, January 17th. Finally, Jefferies Financial Group upped their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$31.42.

Topaz Energy Stock Up 0.2 %

Shares of Topaz Energy stock opened at C$24.26 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. The company’s fifty day simple moving average is C$25.19 and its two-hundred day simple moving average is C$26.36. The company has a market cap of C$3.71 billion, a P/E ratio of 56.96 and a beta of 0.50. Topaz Energy has a 12-month low of C$21.52 and a 12-month high of C$29.51.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.32 annualized dividend and a dividend yield of 5.44%. Topaz Energy’s dividend payout ratio (DPR) is currently 309.94%.

Insiders Place Their Bets

In other news, Director Stephen Phillip Larke sold 100,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. Also, Senior Officer Cheree Stephenson purchased 2,110 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of C$23.68 per share, for a total transaction of C$49,964.80. 35.66% of the stock is owned by insiders.

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.