Topaz Energy (TSE:TPZ) Given New C$28.00 Price Target at Royal Bank of Canada

Topaz Energy (TSE:TPZ – Get Rating) had its price objective trimmed by Royal Bank of Canada from C$30.00 to C$28.00 in a research report report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on TPZ. Raymond James lowered their target price on Topaz Energy from C$30.00 to C$28.00 and set a strong-buy rating for the company in a report on Monday, January 16th. Scotiabank reduced their price target on Topaz Energy from C$33.00 to C$32.00 in a research report on Tuesday, January 17th. Ci Capital reduced their price target on Topaz Energy from C$29.00 to C$27.00 in a research report on Tuesday, January 17th. BMO Capital Markets boosted their price target on Topaz Energy from C$30.00 to C$32.00 in a research report on Wednesday, November 2nd. Finally, ATB Capital boosted their price target on Topaz Energy from C$30.00 to C$32.00 and gave the stock a strong-buy rating in a research report on Tuesday, November 15th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Buy and an average target price of C$29.27.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$19.41 on Wednesday. Topaz Energy has a twelve month low of C$17.96 and a twelve month high of C$24.80. The stock has a market capitalization of C$2.80 billion, a price-to-earnings ratio of 28.04 and a beta of 0.71. The stock has a fifty day simple moving average of C$20.53 and a two-hundred day simple moving average of C$21.40. The company has a current ratio of 8.06, a quick ratio of 7.17 and a debt-to-equity ratio of 34.84.

Topaz Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.18%. The ex-dividend date is Tuesday, March 14th. Topaz Energy’s dividend payout ratio is currently 173.91%.

Insider Activity at Topaz Energy

In other Topaz Energy news, Director Mike Rose bought 10,000 shares of Topaz Energy stock in a transaction that occurred on Wednesday, December 28th. The shares were bought 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 directly owns 443,470 shares of the company’s stock, valued at approximately C$9,312,160.45. 36.59% of the stock is currently owned by corporate insiders.

About Topaz Energy

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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.