Topaz Energy (TSE:TPZ) Trading 0.9% Higher – Time to Buy?

Topaz Energy Corp. (TSE:TPZ)’s stock price shot up 0.9% on Tuesday . The stock traded as high as C$31.36 and last traded at C$31.31. Approximately 350,997 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 568,097 shares. The stock had previously closed at C$31.02.

Analysts Set New Price Targets

Several research firms have commented on TPZ. TD upped their target price on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Canadian Imperial Bank of Commerce lifted their price target on Topaz Energy from C$34.50 to C$35.25 in a report on Tuesday, July 28th. BMO Capital Markets boosted their price objective on Topaz Energy from C$35.50 to C$36.50 in a research report on Tuesday, July 28th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, ATB Cormark Capital Markets raised their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$34.07.

Topaz Energy Stock Performance

The stock has a market cap of C$4.85 billion, a price-to-earnings ratio of 33.67 and a beta of 0.34. The company’s 50 day simple moving average is C$31.05 and its 200 day simple moving average is C$31.02. The company has a debt-to-equity ratio of 36.22, a quick ratio of 7.17 and a current ratio of 3.48.

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

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 4.5%. Topaz Energy’s dividend payout ratio is presently 147.31%.

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.