Topaz Energy (TSE:TPZ) Trading 0.4% Higher – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ)’s share price traded up 0.4% during mid-day trading on Tuesday . The company traded as high as C$32.37 and last traded at C$32.15. 768,189 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 587,608 shares. The stock had previously closed at C$32.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Raymond James Financial downgraded shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price objective on the stock. in a research report on Monday, March 30th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. TD raised their price target on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, ATB Cormark Capital Markets raised their price target on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$33.65.

Topaz Energy Price Performance

The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17. The company’s 50 day simple moving average is C$31.58 and its 200 day simple moving average is C$30.48. The company has a market capitalization of C$4.98 billion, a PE ratio of 36.95 and a beta of 0.35.

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

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.4%. This is a boost from Topaz Energy’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, June 15th. Topaz Energy’s dividend payout ratio is presently 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.