Topaz Energy (TSE:TPZ) Reaches New 12-Month High – Still a Buy?

Topaz Energy Corp. (TSE:TPZ) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$28.21 and last traded at C$27.96, with a volume of 8015 shares traded. The stock had previously closed at C$27.94.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPZ. National Bankshares raised their target price on shares of Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. ATB Capital downgraded Topaz Energy from an “overweight” rating to a “neutral” rating and increased their price target for the stock from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. TD Securities boosted their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Scotiabank increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, CIBC boosted their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$31.13.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. The company has a market cap of C$4.05 billion, a PE ratio of 75.51 and a beta of 0.50. The business has a fifty day simple moving average of C$26.51 and a two-hundred day simple moving average of C$24.94.

Topaz Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 4.72%. Topaz Energy’s dividend payout ratio (DPR) is presently 356.76%.

Topaz Energy Company Profile

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.