Topaz Energy Corp. (TSE:TPZ) Given Consensus Rating of “Buy” by Brokerages

Topaz Energy Corp. (TSE:TPZ) has received an average rating of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$33.65.

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Topaz Energy from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Canadian Imperial Bank of Commerce upped their price objective on Topaz Energy from C$29.00 to C$33.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Desjardins upped their price objective on Topaz Energy from C$31.00 to C$32.50 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada upped their price objective on Topaz Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Finally, TD Securities upped their price objective on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$32.97 on Friday. Topaz Energy has a twelve month low of C$24.37 and a twelve month high of C$33.91. The company has a current ratio of 2.93, a quick ratio of 7.17 and a debt-to-equity ratio of 35.87. The company has a market capitalization of C$5.10 billion, a price-to-earnings ratio of 37.90 and a beta of 0.32. The business has a 50 day simple moving average of C$31.48 and a 200-day simple moving average of C$29.72.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$0.25 EPS for the quarter. The firm had revenue of C$88.66 million during the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%. As a group, equities research analysts expect that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, June 15th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. Topaz Energy’s dividend payout ratio (DPR) is currently 156.32%.

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. 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.