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

Topaz Energy Corp. (TSE:TPZ) has received a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$33.65.

A number of research analysts have weighed in on the company. Raymond James Financial downgraded Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price on the stock. in a report on Monday, March 30th. TD boosted their price target on Topaz Energy from C$34.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets boosted their price target on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th.

Topaz Energy Stock Down 0.8%

TPZ stock opened at C$29.47 on Tuesday. Topaz Energy has a fifty-two week low of C$24.37 and a fifty-two week high of C$33.91. The business’s 50 day moving average price is C$31.57 and its two-hundred day moving average price is C$30.09. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93. The company has a market capitalization of C$4.56 billion, a price-to-earnings ratio of 33.87 and a beta of 0.32.

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

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. Topaz Energy’s payout ratio is presently 156.32%.

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.