Topaz Energy Corp. (TSE:TPZ) Receives C$28.96 Consensus Price Target from Analysts

Topaz Energy Corp. (TSE:TPZ) has been given a consensus rating of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$28.96.

A number of research analysts have recently issued reports on the stock. Desjardins lifted their price objective on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. National Bankshares lifted their price objective on shares of Topaz Energy from C$28.50 to C$32.50 in a report on Monday, August 19th. Canaccord Genuity Group lifted their price objective on shares of Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Finally, Scotiabank lifted their price objective on shares of Topaz Energy from C$33.00 to C$34.00 in a report on Friday, July 12th.

Topaz Energy Trading Up 0.9 %

TPZ opened at C$25.66 on Wednesday. Topaz Energy has a 1-year low of C$18.03 and a 1-year high of C$26.93. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The company has a market cap of C$3.72 billion, a P/E ratio of 69.35 and a beta of 0.51. The company has a fifty day moving average price of C$25.49 and a two-hundred day moving average price of C$23.76.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The firm had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Analysts predict that Topaz Energy will post 0.183663 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, September 13th. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 5.14%. Topaz Energy’s payout ratio is 356.76%.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.