Topaz Energy (TSE:TPZ) Price Target Cut to C$32.00 by Analysts at Scotiabank

Topaz Energy (TSE:TPZGet Rating) had its target price decreased by Scotiabank from C$33.00 to C$32.00 in a research note released on Tuesday morning, BayStreet.CA reports.

TPZ has been the topic of a number of other reports. ATB Capital increased their price objective on shares of Topaz Energy from C$30.00 to C$32.00 and gave the company a strong-buy rating in a research note on Tuesday, November 15th. Stifel Nicolaus set a C$24.50 price objective on shares of Topaz Energy and gave the company a buy rating in a research note on Friday, January 13th. BMO Capital Markets lifted their price objective on shares of Topaz Energy from C$30.00 to C$32.00 in a report on Wednesday, November 2nd. Stifel Firstegy reiterated a buy rating on shares of Topaz Energy in a research note on Thursday, January 12th. Finally, Raymond James cut their price objective on shares of Topaz Energy from C$30.00 to C$28.00 and set a strong-buy rating on the stock in a research note on Monday. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$29.44.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$21.94 on Tuesday. The firm’s 50-day moving average is C$22.04 and its two-hundred day moving average is C$21.44. The company has a market capitalization of C$3.16 billion and a PE ratio of 31.80. Topaz Energy has a 12 month low of C$16.90 and a 12 month high of C$24.80. The company has a debt-to-equity ratio of 34.84, a current ratio of 8.06 and a quick ratio of 7.17.

Topaz Energy (TSE:TPZGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported C$0.13 EPS for the quarter. The firm had revenue of C$81.68 million for the quarter. Analysts predict that Topaz Energy will post 0.86 earnings per share for the current year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 30th were issued a dividend of $0.30 per share. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend was Wednesday, December 14th. Topaz Energy’s payout ratio is currently 150.72%.

Insiders Place Their Bets

In other news, Director Mike Rose purchased 10,000 shares of the stock in a transaction on Wednesday, December 28th. The shares were acquired at an average price of C$21.00 per share, for a total transaction of C$209,984.00. Following the completion of the transaction, the director now directly owns 443,470 shares of the company’s stock, valued at approximately C$9,312,160.45. In related news, Senior Officer Cheree Stephenson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of C$22.90, for a total value of C$45,800.00. Following the completion of the transaction, the insider now directly owns 23,000 shares in the company, valued at approximately C$526,700. Also, Director Mike Rose acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were acquired at an average cost of C$21.00 per share, with a total value of C$209,984.00. Following the transaction, the director now owns 443,470 shares in the company, valued at C$9,312,160.45. Insiders have sold a total of 7,622 shares of company stock worth $177,739 over the last 90 days.

About Topaz Energy

(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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