Topaz Energy (TSE:TPZ) Stock Price Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• Topaz Energy shares broke above their 200-day moving average, reaching C$31.00 before closing at C$30.66, up 0.2% with 517,963 shares traded.
• Analysts raised their price targets to C$36.50 at BMO Capital Markets and C$35.25 at CIBC. The stock has an overall “Buy” rating and an average target of C$34.07.
• Topaz reported quarterly EPS of C$0.29 on revenue of C$115.39 million and paid a quarterly dividend of C$0.35 per share, representing a 4.6% yield.

Topaz Energy Corp. (TSE:TPZ - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$30.64 and traded as high as C$31.00. Topaz Energy shares last traded at C$30.66, with a volume of 517,963 shares traded.

Analysts Set New Price Targets

TPZ has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on Topaz Energy from C$35.50 to C$36.50 in a research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce boosted their target price on Topaz Energy from C$34.50 to C$35.25 in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$34.07.

Topaz Energy Stock Up 0.2%

The company has a 50 day simple moving average of C$30.40 and a two-hundred day simple moving average of C$30.64. The company has a market capitalization of C$4.76 billion, a P/E ratio of 32.97 and a beta of 0.47. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported C$0.29 EPS for the quarter. The company had revenue of C$115.39 million during the quarter. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. As a group, equities analysts predict that Topaz Energy Corp. will post 0.20 EPS for the current year.

Topaz Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, September 15th. Topaz Energy's dividend payout ratio is presently 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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