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

Key Points

• Topaz Energy has a consensus analyst rating of "Buy", based on coverage from ten brokerages. The average 12-month target price is C$33.65.
• Several analysts recently updated their views, including ATB Cormark and TD raising price targets to C$35, while Scotiabank upgraded the stock to strong-buy.
• The company recently raised its quarterly dividend to C$0.35 per share, bringing the annualized yield to about 4.3%. Topaz also reported C$0.25 EPS for the latest quarter on revenue of C$88.66 million.

Shares of Topaz Energy Corp. (TSE:TPZ - Get Free Report) have been assigned an average rating of "Buy" from the ten brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is C$33.65.

A number of analysts have commented on TPZ shares. ATB Cormark Capital Markets boosted their price target on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. TD increased their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Raymond James Financial cut Topaz Energy from a "moderate buy" rating to a "hold" rating and set a C$35.00 target price on the stock. in a report on Monday, March 30th. Finally, Scotiabank upgraded Topaz Energy to a "strong-buy" rating in a research report on Friday, June 26th.

Topaz Energy Price Performance

Shares of TPZ opened at C$32.68 on Friday. The firm has a market capitalization of C$5.06 billion, a price-to-earnings ratio of 37.56 and a beta of 0.35. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93. Topaz Energy has a one year low of C$24.37 and a one year high of C$33.91. The stock's fifty day moving average is C$31.59 and its 200-day moving average is C$30.57.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$0.25 earnings per share for the quarter. The business had revenue of C$88.66 million during the quarter. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%. Equities analysts anticipate that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.35 per share. This is an increase from Topaz Energy's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 15th. Topaz Energy's dividend payout ratio (DPR) is 156.32%.

About Topaz Energy

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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