Analysts Set Topaz Energy Corp. (TSE:TPZ) Price Target at C$31.64

Topaz Energy Corp. (TSE:TPZ - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$31.64.

TPZ has been the topic of a number of recent analyst reports. Desjardins decreased their price objective on shares of Topaz Energy from C$32.00 to C$29.50 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. CIBC decreased their price objective on shares of Topaz Energy from C$32.00 to C$30.00 in a research note on Thursday, April 10th.

Topaz Energy Stock Performance

TPZ stock traded down C$1.02 during mid-day trading on Friday, hitting C$25.49. 561,697 shares of the company were exchanged, compared to its average volume of 372,673. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. Topaz Energy has a 1-year low of C$21.00 and a 1-year high of C$29.51. The business has a 50 day simple moving average of C$24.81 and a 200-day simple moving average of C$25.18. The stock has a market capitalization of C$3.90 billion, a PE ratio of 59.85 and a beta of 0.50.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.34 per share. This is an increase from Topaz Energy's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Friday, June 13th. Topaz Energy's payout ratio is currently 309.94%.

About Topaz Energy

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.