Topaz Energy (TSE:TPZ) Sets New 52-Week High – Time to Buy?

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high on Tuesday . The company traded as high as C$33.91 and last traded at C$33.46, with a volume of 29749 shares trading hands. The stock had previously closed at C$33.15.

Analyst Ratings Changes

TPZ has been the subject of a number of research reports. ATB Cormark Capital Markets boosted their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research note on Wednesday, April 1st. TD boosted their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. TD Securities boosted their price objective on Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group boosted their price objective on Topaz Energy from C$33.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$33.65.

Topaz Energy Stock Performance

The stock has a 50-day simple moving average of C$31.20 and a 200 day simple moving average of C$29.06. The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17. The company has a market capitalization of C$5.20 billion, a PE ratio of 38.63 and a beta of 0.21.

Topaz Energy (TSE:TPZ) last posted its earnings results on Tuesday, May 5th. The company reported C$0.25 EPS for the quarter. The company had revenue of C$88.66 million for the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%. Equities analysts anticipate that Topaz Energy Corp. will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, March 13th. Topaz Energy’s payout ratio is presently 156.32%.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.