Topaz Energy (TSE:TPZ) PT Raised to C$26.00

Topaz Energy (TSE:TPZ) had its target price hoisted by CIBC from C$24.00 to C$26.00 in a research note released on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on TPZ. National Bankshares cut their target price on Topaz Energy from C$30.00 to C$27.50 and set an outperform rating on the stock in a report on Wednesday, January 10th. ATB Capital cut their target price on Topaz Energy from C$32.00 to C$30.00 in a report on Tuesday, January 2nd. Canaccord Genuity Group increased their target price on Topaz Energy from C$27.50 to C$28.50 and gave the stock a buy rating in a report on Tuesday, March 5th. Scotiabank cut their target price on Topaz Energy from C$32.00 to C$30.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. Finally, Raymond James dropped their price objective on Topaz Energy from C$27.00 to C$25.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of C$26.73.

Topaz Energy Price Performance

Topaz Energy stock opened at C$22.36 on Monday. The stock has a market capitalization of C$3.24 billion, a price-to-earnings ratio of 67.76 and a beta of 0.48. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$23.17. The stock’s 50 day moving average price is C$21.35 and its two-hundred day moving average price is C$20.43. The company has a debt-to-equity ratio of 31.49, a quick ratio of 7.17 and a current ratio of 8.52.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. The firm had revenue of C$82.78 million for the quarter, compared to analysts’ expectations of C$79.00 million. On average, equities analysts predict that Topaz Energy will post 0.2818351 earnings per share for the current year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 5.72%. Topaz Energy’s dividend payout ratio (DPR) is currently 387.88%.

Insider Activity

In related news, Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total value of C$4,470,000.00. Insiders own 35.55% of the company’s stock.

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.