Topaz Energy (TSE:TPZ) Shares Up 1.3% – Time to Buy?

Topaz Energy Corp. (TSE:TPZ)’s share price was up 1.3% during mid-day trading on Wednesday . The stock traded as high as C$29.25 and last traded at C$29.08. Approximately 479,480 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 451,422 shares. The stock had previously closed at C$28.70.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPZ. Raymond James Financial increased their price target on shares of Topaz Energy from C$32.00 to C$34.00 in a report on Tuesday, December 9th. Jefferies Financial Group lowered their price target on Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$31.40.

Topaz Energy Stock Up 1.3%

The firm has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 78.59 and a beta of 0.27. The firm has a fifty day moving average price of C$27.83 and a 200 day moving average price of C$26.56. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45.

Topaz Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.7%. Topaz Energy’s payout ratio is currently 362.16%.

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.