Topaz Energy Corp. (TSE:TPZ) Receives C$26.88 Consensus Price Target from Brokerages

Topaz Energy Corp. (TSE:TPZ) has earned an average recommendation of “Buy” from the eleven analysts that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$26.88.

A number of brokerages recently issued reports on TPZ. Stifel Nicolaus boosted their target price on shares of Topaz Energy from C$25.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on shares of Topaz Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Jefferies Financial Group set a C$23.00 price target on shares of Topaz Energy and gave the company a “buy” rating in a report on Tuesday, February 27th. CIBC boosted their price target on shares of Topaz Energy from C$24.00 to C$26.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, BMO Capital Markets set a C$27.00 price target on shares of Topaz Energy and gave the company an “outperform” rating in a report on Wednesday, March 13th.

Topaz Energy Trading Down 1.2 %

Shares of TPZ stock opened at C$22.35 on Thursday. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$23.17. The firm’s fifty day simple moving average is C$22.40 and its 200 day simple moving average is C$20.61. The firm has a market capitalization of C$3.24 billion, a P/E ratio of 69.84 and a beta of 0.50. 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 (TSE:TPZ) last announced its earnings results on Monday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). Topaz Energy had a return on equity of 3.62% and a net margin of 14.29%. The company had revenue of C$70.88 million for the quarter, compared to the consensus estimate of C$78.00 million. As a group, sell-side analysts predict that Topaz Energy will post 0.2183457 EPS for the current year.

Topaz Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.32 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.28 annualized dividend and a dividend yield of 5.73%. Topaz Energy’s dividend payout ratio is presently 400.00%.

Insider Activity

In other news, Director Stephen Phillip Larke sold 200,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00. 35.67% of the stock is owned by corporate insiders.

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.