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

Key Points

• Topaz Energy Corp. has received a consensus recommendation of "Moderate Buy" from five ratings firms, with an average 1-year target price of C$31.80.
• Insider activity shows Director Mike Rose recently purchased 10,000 shares at an average price of C$25.37, indicating confidence in the company's performance.
• The company announced a quarterly dividend of $0.34 per share, reflecting a 5.2% dividend yield and a significant dividend payout ratio of 324.39%.

Topaz Energy Corp. (TSE:TPZ - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$31.80.

Separately, Jefferies Financial Group raised their price objective on Topaz Energy from C$28.00 to C$31.00 in a research report on Wednesday, July 23rd.

Insider Activity

In related news, Director Mike Rose acquired 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of C$25.37 per share, for a total transaction of C$253,729.00. 35.66% of the stock is owned by company insiders.

Topaz Energy Price Performance

Topaz Energy stock opened at C$26.28 on Monday. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. The company has a market capitalization of C$4.04 billion, a PE ratio of 64.10 and a beta of 0.31. Topaz Energy has a 12 month low of C$21.00 and a 12 month high of C$29.51. The stock has a 50-day moving average price of C$25.47 and a two-hundred day moving average price of C$24.96.

Topaz Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, September 15th. Topaz Energy's dividend payout ratio (DPR) is 324.39%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.