Topaz Energy (TSE:TPZ) Upgraded at Scotiabank

Scotiabank upgraded shares of Topaz Energy (TSE:TPZ) to a strong-buy rating in a report issued on Friday,Zacks.com reports.

Separately, Raymond James Financial lifted their target price on shares of Topaz Energy from C$31.00 to C$32.00 in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy” and an average price target of C$31.70.

Topaz Energy Price Performance

TPZ opened at C$28.28 on Friday. Topaz Energy has a twelve month low of C$21.00 and a twelve month high of C$28.72. The firm has a 50-day moving average price of C$25.93 and a 200-day moving average price of C$25.63. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. The company has a market capitalization of C$4.35 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter. Topaz Energy had a net margin of 20.54% and a return on equity of 5.15%. The business had revenue of C$76.44 million for the quarter. Equities analysts expect that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Announces Dividend

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

Insider Activity at Topaz Energy

In other news, Director Mike Rose bought 10,000 shares of the 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 in the company, valued at C$11,179,878.70. The trade was a 2.31% increase in their ownership of the stock. 35.66% of the stock is owned by insiders.

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.