Topaz Energy Corp. (TSE:TPZ) Receives Consensus Recommendation of “Buy” from Brokerages

Topaz Energy Corp. (TSE:TPZ) has earned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$33.28.

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Topaz Energy from C$31.00 to C$30.00 in a research report on Tuesday, January 20th. Desjardins upped their price objective on Topaz Energy from C$31.00 to C$32.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Raymond James Financial 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 note on Wednesday, February 25th. Canaccord Genuity Group lifted their target price on Topaz Energy from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, TD Securities upped their price target on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Wednesday, February 25th.

Topaz Energy Price Performance

Shares of TSE:TPZ opened at C$32.18 on Friday. Topaz Energy has a 12 month low of C$21.00 and a 12 month high of C$32.46. The stock has a market cap of C$4.98 billion, a price-to-earnings ratio of 38.77 and a beta of 0.21. The stock’s 50 day moving average price is C$29.57 and its 200 day moving average price is C$27.50. The company has a debt-to-equity ratio of 37.54, a current ratio of 11.26 and a quick ratio of 7.17.

Topaz Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, March 13th. Topaz Energy’s payout ratio is presently 162.65%.

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.