Topaz Energy (TSE:TPZ) Price Target Raised to C$28.00

Topaz Energy (TSE:TPZ) had its price objective boosted by Royal Bank of Canada from C$27.00 to C$28.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Topaz Energy from C$27.00 to C$29.00 in a research note on Wednesday. TD Securities boosted their target price on shares of Topaz Energy from C$24.00 to C$25.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their target price on shares of Topaz Energy from C$25.00 to C$27.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. CIBC boosted their target price on shares of Topaz Energy from C$26.00 to C$27.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their target price on shares of Topaz Energy from C$28.50 to C$29.00 and gave the company a buy rating in a research note on Wednesday. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Topaz Energy currently has an average rating of Buy and a consensus price target of C$27.67.

Topaz Energy Stock Performance

Shares of TSE TPZ opened at C$24.50 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 7.17 and a debt-to-equity ratio of 30.43. Topaz Energy has a 12 month low of C$18.03 and a 12 month high of C$24.97. The company has a 50 day simple moving average of C$22.95 and a two-hundred day simple moving average of C$21.38. The stock has a market cap of C$3.55 billion, a price-to-earnings ratio of 76.56 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings data on Monday, April 29th. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.03). Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. The business had revenue of C$70.88 million for the quarter, compared to analyst estimates of C$78.00 million. As a group, analysts predict that Topaz Energy will post 0.198902 earnings per share for the current year.

Topaz Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 5.22%. The ex-dividend date was Friday, June 14th. Topaz Energy’s payout ratio is presently 400.00%.

About Topaz Energy

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.