Topaz Energy (TSE:TPZ) Stock Price Up 1.3% – Here’s Why

Topaz Energy Corp. (TSE:TPZ)’s stock price was up 1.3% during trading on Wednesday . The company traded as high as C$29.25 and last traded at C$29.08. Approximately 479,480 shares changed hands during trading, an increase of 6% from the average daily volume of 451,422 shares. The stock had previously closed at C$28.70.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TPZ shares. National Bank Financial set a C$33.50 target price on shares of Topaz Energy and gave the stock an “outperform” rating in a report on Friday, January 9th. Jefferies Financial Group dropped their price objective on shares of Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Finally, Raymond James Financial raised their price target on Topaz Energy from C$32.00 to C$34.00 in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$31.40.

Topaz Energy Stock Up 1.3%

The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89. The company has a market cap of C$4.47 billion, a price-to-earnings ratio of 78.59 and a beta of 0.27. The business’s 50 day simple moving average is C$27.83 and its 200-day simple moving average is C$26.56.

Topaz Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a $0.34 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.36 dividend on an annualized basis and a yield of 4.7%. Topaz Energy’s dividend payout ratio (DPR) is presently 362.16%.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.