Topaz Energy (TSE:TPZ) Price Target Raised to C$36.50

Topaz Energy (TSE:TPZ) had its price target raised by BMO Capital Markets from C$35.50 to C$36.50 in a research note published on Tuesday morning,BayStreet.CA reports.

TPZ has been the subject of a number of other research reports. 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. ATB Cormark Capital Markets lifted their target price on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Raymond James Financial downgraded shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price target for the company. in a research report on Monday, March 30th. Finally, Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$34.07.

Topaz Energy Stock Down 1.0%

TPZ opened at C$31.98 on Tuesday. Topaz Energy has a one year low of C$24.37 and a one year high of C$33.91. The company has a debt-to-equity ratio of 36.22, a quick ratio of 7.17 and a current ratio of 3.48. The stock has a market capitalization of C$4.95 billion, a P/E ratio of 36.76 and a beta of 0.35. The business’s 50-day simple moving average is C$31.48 and its 200-day simple moving average is C$30.74.

Topaz Energy (TSE:TPZ) last announced its earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. The firm had revenue of C$115.39 million during the quarter. Topaz Energy had a return on equity of 12.16% and a net margin of 48.58%. Analysts anticipate that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.4%. Topaz Energy’s dividend payout ratio is presently 156.32%.

About Topaz Energy

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.