Scotiabank Upgrades Topaz Energy (TSE:TPZ) to Strong-Buy

Topaz Energy (TSE:TPZ) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price objective on shares of Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Raymond James Financial lowered shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price on the stock. in a research note on Monday. Canaccord Genuity Group boosted their target price on Topaz Energy from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce upped their price target on Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, TD Securities increased their price target on Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$33.28.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$31.09 on Wednesday. The firm has a 50-day simple moving average of C$30.26 and a 200-day simple moving average of C$27.86. The stock has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 37.46 and a beta of 0.21. The company has a quick ratio of 7.17, a current ratio of 11.26 and a debt-to-equity ratio of 37.54. Topaz Energy has a 52 week low of C$21.00 and a 52 week high of C$32.46.

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.