Topaz Energy (TSE:TPZ) PT Raised to C$27.00 at Royal Bank of Canada

Topaz Energy (TSE:TPZ) had its target price upped by Royal Bank of Canada from C$26.00 to C$27.00 in a report published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

TPZ has been the subject of a number of other reports. Canaccord Genuity Group boosted their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a buy rating in a research note on Tuesday, March 5th. BMO Capital Markets set a C$27.00 target price on shares of Topaz Energy and gave the stock an outperform rating in a research report on Wednesday, March 13th. Stifel Nicolaus boosted their price target on Topaz Energy from C$25.00 to C$27.00 and gave the company a buy rating in a report on Tuesday, April 23rd. TD Securities increased their price objective on Topaz Energy from C$24.00 to C$25.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Finally, Scotiabank decreased their target price on Topaz Energy from C$32.00 to C$30.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of C$26.88.

Topaz Energy Stock Down 0.3 %

Shares of TSE TPZ opened at C$22.37 on Tuesday. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$23.17. The firm has a 50-day simple moving average of C$21.94 and a two-hundred day simple moving average of C$20.51. The company has a market cap of C$3.24 billion, a P/E ratio of 67.79 and a beta of 0.48. 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 (TSE:TPZ) last issued its quarterly earnings results on Monday, March 4th. The company reported C$0.13 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.62% and a net margin of 14.62%. The firm had revenue of C$82.78 million for the quarter, compared to the consensus estimate of C$79.00 million. Research analysts anticipate that Topaz Energy will post 0.2575141 earnings per share for the current year.

Topaz Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.28 annualized dividend and a yield of 5.72%. Topaz Energy’s dividend payout ratio (DPR) is presently 387.88%.

Insider Buying and Selling

In related news, Director Stephen Phillip Larke sold 200,000 shares of the company’s stock in a transaction dated 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. 35.67% of the stock is currently owned by company insiders.

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.