Topaz Energy Corp. (TSE:TPZ) Declares Quarterly Dividend of $0.32

Topaz Energy Corp. (TSE:TPZ) announced a quarterly dividend on Monday, April 29th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.32 per share on Friday, June 28th. This represents a $1.28 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Friday, June 14th.

Topaz Energy Stock Down 1.3 %

Shares of TSE TPZ traded down C$0.29 during midday trading on Wednesday, hitting C$22.50. 76,469 shares of the company’s stock were exchanged, compared to its average volume of 299,735. The company has a debt-to-equity ratio of 30.43, a current ratio of 2.47 and a quick ratio of 7.17. Topaz Energy has a twelve month low of C$18.03 and a twelve month high of C$23.17. The company has a market cap of C$3.26 billion, a PE ratio of 69.06 and a beta of 0.48. The firm’s fifty day simple moving average is C$21.82 and its 200-day simple moving average is C$20.48.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, March 4th. The company reported C$0.13 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.07. The company had revenue of C$82.78 million for the quarter, compared to analyst estimates of C$79.00 million. Topaz Energy had a return on equity of 3.62% and a net margin of 14.62%. Research analysts predict that Topaz Energy will post 0.2575141 EPS for the current fiscal year.

Insider Activity at Topaz Energy

In other Topaz Energy news, Director Stephen Phillip Larke sold 200,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total transaction of C$4,470,000.00. Company insiders own 35.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Stifel Nicolaus lifted their price target on Topaz Energy from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. TD Securities boosted their target price on Topaz Energy from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. BMO Capital Markets set a C$27.00 target price on Topaz Energy and gave the company an “outperform” rating in a report on Wednesday, March 13th. National Bankshares dropped their target price on Topaz Energy from C$30.00 to C$27.50 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Finally, Desjardins dropped their target price on Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$26.88.

Topaz Energy Company Profile

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.