Topaz Energy Corp. (TSE:TPZ) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analyst sentiment is positive: Ten analysts have an average “Buy” rating on Topaz Energy, with eight buys, one hold and one strong buy. The average 12-month price target is C$34.07, with several firms recently raising their targets to between C$35.00 and C$36.50.
• Topaz reported quarterly earnings of C$0.29 per share on revenue of C$115.39 million, alongside a 48.58% net margin and 12.16% return on equity.
• The company increased its quarterly dividend to C$0.35, representing a C$1.40 annualized payout and a 4.5% yield. However, its payout ratio is high at 147.31%.

Shares of Topaz Energy Corp. (TSE:TPZ - Get Free Report) have received an average recommendation of "Buy" from the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$34.07.

Several equities analysts recently commented on the company. TD upped their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. ATB Cormark Capital Markets boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Scotiabank upgraded Topaz Energy to a "strong-buy" rating in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce upped their price target on Topaz Energy from C$34.50 to C$35.25 in a research report on Tuesday, July 28th. Finally, BMO Capital Markets lifted their price objective on Topaz Energy from C$35.50 to C$36.50 in a report on Tuesday, July 28th.

Topaz Energy Price Performance

TPZ opened at C$31.31 on Wednesday. Topaz Energy has a fifty-two week low of C$24.37 and a fifty-two week high of C$33.91. The firm has a 50-day moving average of C$31.05 and a 200 day moving average of C$31.02. The company has a debt-to-equity ratio of 36.22, a quick ratio of 7.17 and a current ratio of 3.48. The firm has a market cap of C$4.85 billion, a P/E ratio of 33.67 and a beta of 0.34.

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

Topaz Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.5%. This is an increase from Topaz Energy's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, June 15th. Topaz Energy's 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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