Topaz Energy Corp. (TSE:TPZ) Forecasted to Earn FY2022 Earnings of $0.98 Per Share

Topaz Energy Corp. (TSE:TPZGet Rating) – Stifel Firstegy boosted their FY2022 earnings per share (EPS) estimates for Topaz Energy in a report issued on Thursday, May 19th. Stifel Firstegy analyst R. Fitzmartyn now expects that the company will post earnings per share of $0.98 for the year, up from their prior estimate of $0.82. Stifel Firstegy also issued estimates for Topaz Energy’s FY2023 earnings at $0.97 EPS.

Other equities analysts also recently issued reports about the stock. Raymond James set a C$27.00 price target on shares of Topaz Energy and gave the stock a “strong-buy” rating in a research note on Wednesday, May 4th. CIBC increased their target price on shares of Topaz Energy from C$23.00 to C$26.00 in a research report on Thursday, April 14th. Cormark increased their target price on shares of Topaz Energy from C$26.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Royal Bank of Canada increased their target price on shares of Topaz Energy from C$27.50 to C$28.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 4th. Finally, BMO Capital Markets increased their target price on shares of Topaz Energy from C$27.00 to C$30.00 in a research report on Wednesday, May 4th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$26.54.

TSE TPZ opened at C$23.41 on Monday. Topaz Energy has a 1-year low of C$14.51 and a 1-year high of C$24.80. The company has a current ratio of 3.07, a quick ratio of 3.02 and a debt-to-equity ratio of 18.67. The company has a market capitalization of C$3.27 billion and a PE ratio of 93.27. The firm’s fifty day simple moving average is C$21.85 and its 200-day simple moving average is C$19.47.

Topaz Energy (TSE:TPZGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported C$0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.12. The company had revenue of C$75.68 million during the quarter, compared to analyst estimates of C$76.00 million.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 31st were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 17.77%. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Topaz Energy’s previous quarterly dividend of $0.24. Topaz Energy’s dividend payout ratio (DPR) is presently 362.55%.

In related news, Director Mike Rose bought 10,000 shares of Topaz Energy stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of C$23.31 per share, for a total transaction of C$233,128.00. Following the completion of the purchase, the director now owns 433,470 shares in the company, valued at C$10,105,399.42.

Topaz Energy Company Profile (Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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Earnings History and Estimates for Topaz Energy (TSE:TPZ)

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