Topaz Energy (TSE:TPZ) Lowered to “Market Perform” Rating by Raymond James Financial

Raymond James Financial cut shares of Topaz Energy (TSE:TPZ) from an outperform rating to a market perform rating in a report issued on Monday morning,BayStreet.CA reports. They currently have C$35.00 price target on the stock.

A number of other brokerages also recently weighed in on TPZ. Desjardins increased their price target on Topaz Energy from C$31.00 to C$32.50 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada upped their target price on Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. TD Securities lifted their target price on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Canaccord Genuity Group lifted their price objective on shares of 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. Finally, National Bank Financial set a C$33.50 target price on shares of Topaz Energy and gave the company an “outperform” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$33.28.

Topaz Energy Trading Down 0.4%

TPZ opened at C$31.55 on Monday. The company has a debt-to-equity ratio of 37.54, a current ratio of 11.26 and a quick ratio of 7.17. Topaz Energy has a fifty-two week low of C$21.00 and a fifty-two week high of C$32.46. The company’s 50 day moving average price is C$30.08 and its two-hundred day moving average price is C$27.78. The firm has a market capitalization of C$4.88 billion, a price-to-earnings ratio of 38.01 and a beta of 0.21.

Topaz Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, March 13th. Topaz Energy’s payout ratio is presently 162.65%.

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.