Topaz Energy (TSE:TPZ) Price Target Raised to C$24.00 at TD Securities

Topaz Energy (TSE:TPZ) had its price target lifted by TD Securities from C$23.00 to C$24.00 in a research note published on Tuesday, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

TPZ has been the topic of a number of other research reports. Raymond James increased their price target on shares of Topaz Energy from C$26.00 to C$27.00 and gave the stock a strong-buy rating in a report on Friday, September 8th. Canaccord Genuity Group raised their price target on Topaz Energy from C$27.50 to C$28.00 in a research report on Friday, October 20th. Desjardins upped their price objective on Topaz Energy from C$27.00 to C$27.50 and gave the stock a buy rating in a report on Wednesday, August 2nd. Stifel Nicolaus raised their price objective on Topaz Energy from C$25.25 to C$25.50 in a report on Tuesday. Finally, CIBC cut their target price on Topaz Energy from C$26.75 to C$26.50 and set an outperform rating for the company in a research note on Monday, October 16th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and an average price target of C$27.77.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$21.20 on Tuesday. The stock’s 50-day simple moving average is C$21.61 and its two-hundred day simple moving average is C$20.98. Topaz Energy has a twelve month low of C$17.76 and a twelve month high of C$24.49. The firm has a market capitalization of C$3.07 billion, a P/E ratio of 55.79 and a beta of 0.63. The company has a quick ratio of 7.17, a current ratio of 5.51 and a debt-to-equity ratio of 32.56.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Monday, July 31st. The company reported C$0.06 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.01). The business had revenue of C$74.68 million for the quarter. Topaz Energy had a return on equity of 3.56% and a net margin of 13.73%. As a group, equities analysts anticipate that Topaz Energy will post 0.4197189 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 29th were given a $0.31 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.24 annualized dividend and a yield of 5.85%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.30. Topaz Energy’s payout ratio is presently 326.32%.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates through two segments: the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6.1 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.