Topaz Energy Corp. (TSE:TPZ) Receives Average Rating of “Buy” from Brokerages

Topaz Energy Corp. (TSE:TPZ) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$33.28.

Several analysts have issued reports on TPZ shares. Desjardins boosted their price objective on shares of Topaz Energy from C$31.00 to C$32.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Raymond James Financial lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. TD Securities boosted their price target on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, Canaccord Genuity Group raised their price objective on Topaz Energy from C$33.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th.

Topaz Energy Trading Up 0.4%

Shares of TPZ opened at C$32.18 on Friday. The company has a market capitalization of C$4.98 billion, a PE ratio of 38.77 and a beta of 0.21. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26. Topaz Energy has a fifty-two week low of C$21.00 and a fifty-two week high of C$32.46. The stock has a fifty day moving average of C$29.57 and a two-hundred day moving average of C$27.50.

Topaz Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, March 13th. This represents a $1.36 annualized dividend and a yield of 4.2%. Topaz Energy’s dividend payout ratio is presently 162.65%.

About Topaz Energy

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.