Topaz Energy (TSE:TPZ) Shares Up 1.6% – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ)’s share price shot up 1.6% during trading on Friday . The stock traded as high as C$28.41 and last traded at C$28.28. 415,534 shares were traded during trading, an increase of 15% from the average session volume of 361,632 shares. The stock had previously closed at C$27.84.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial lifted their price target on shares of Topaz Energy from C$31.00 to C$32.00 in a research note on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$31.70.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89. The stock has a 50 day moving average of C$25.93 and a 200 day moving average of C$25.62. The stock has a market capitalization of C$4.35 billion, a P/E ratio of 76.43 and a beta of 0.24.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, November 3rd. The company reported C$0.07 EPS for the quarter. Topaz Energy had a return on equity of 5.15% and a net margin of 20.54%.The firm had revenue of C$76.44 million for the quarter. Equities analysts predict that Topaz Energy Corp. will post 0.2019855 EPS for the current year.

Topaz Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a $0.34 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.36 annualized dividend and a yield of 4.8%. Topaz Energy’s payout ratio is 362.16%.

Insider Transactions at Topaz Energy

In related news, Director Mike Rose purchased 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were bought at an average price of C$25.21 per share, with a total value of C$252,100.00. Following the completion of the acquisition, the director owned 443,470 shares of the company’s stock, valued at approximately C$11,179,878.70. This represents a 2.31% increase in their ownership of the stock. Company insiders own 35.66% of the company’s stock.

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.