Topaz Energy (TSE:TPZ) Shares Climb 0.4% - Time to Buy?

Key Points

• Topaz Energy shares rose 0.4% to C$28.55 in mid-day trading, below their 50-day and 200-day moving averages of C$30.80 and C$31.17.
• Analysts remain broadly positive: the stock has a consensus “Buy” rating and a C$34.07 target price, with CIBC and BMO recently raising their targets to C$35.25 and C$36.50, respectively.
• Topaz reported C$0.29 in quarterly EPS on C$115.39 million in revenue and pays a quarterly dividend of C$0.35, implying a 4.9% annualized yield; however, its dividend payout ratio is elevated at 147.31%.

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s stock price traded up 0.4% during mid-day trading on Monday. The stock traded as high as C$28.70 and last traded at C$28.55. 461,798 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 579,427 shares. The stock had previously closed at C$28.43.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPZ. Canadian Imperial Bank of Commerce increased their price objective on Topaz Energy from C$34.50 to C$35.25 in a report on Tuesday, July 28th. BMO Capital Markets boosted their target price on shares of Topaz Energy from C$35.50 to C$36.50 in a report on Tuesday, July 28th. Finally, Scotiabank raised shares of Topaz Energy to a "strong-buy" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$34.07.

Topaz Energy Stock Up 0.4%

The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22. The company's fifty day moving average price is C$30.80 and its 200-day moving average price is C$31.17. The stock has a market capitalization of C$4.43 billion, a PE ratio of 30.70 and a beta of 0.47.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share for the quarter. Topaz Energy had a return on equity of 12.16% and a net margin of 48.58%.The company had revenue of C$115.39 million for the quarter. Analysts forecast that Topaz Energy Corp. will post 0.2019855 earnings per share for the current year.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Topaz Energy's dividend payout ratio is currently 147.31%.

Topaz Energy Company Profile

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.

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