Brokerages Set Topaz Energy Corp. (TSE:TPZ) Target Price at C$31.54

Shares of Topaz Energy Corp. (TSE:TPZ) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$31.54.

TPZ has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. Scotiabank raised their price target on shares of Topaz Energy from C$35.00 to C$36.00 in a report on Friday, January 17th. Finally, CIBC raised their target price on shares of Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th.

Insider Activity

In other Topaz Energy news, Senior Officer Cheree Stephenson purchased 2,110 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of C$23.68 per share, with a total value of C$49,964.80. Also, Director Stephen Phillip Larke sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. Company insiders own 35.66% of the company’s stock.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$23.36 on Wednesday. The company has a debt-to-equity ratio of 36.45, a current ratio of 1.89 and a quick ratio of 7.17. The company has a market capitalization of C$3.58 billion, a P/E ratio of 54.85 and a beta of 0.50. The company’s 50-day simple moving average is C$25.60 and its two-hundred day simple moving average is C$26.44. Topaz Energy has a one year low of C$21.35 and a one year high of C$29.51.

Topaz Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.32 annualized dividend and a yield of 5.65%. Topaz Energy’s dividend payout ratio is presently 309.94%.

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.