Topaz Energy Corp. (TSE:TPZ) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Topaz Energy Corp. has received a consensus rating of "Moderate Buy" from five brokerage firms, with an average twelve-month price target of C$31.80.
• Jefferies Financial Group recently raised their price target on Topaz Energy from C$28.00 to C$31.00.
• The company has increased its quarterly dividend to $0.34 per share, representing an annualized yield of 5.5%.

Topaz Energy Corp. (TSE:TPZ - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$31.80.

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

Insider Activity at Topaz Energy

In related news, Director Mike Rose bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average price of C$25.37 per share, for a total transaction of C$253,729.00. Company insiders own 35.66% of the company's stock.

Topaz Energy Price Performance

Shares of Topaz Energy stock opened at C$24.86 on Friday. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. The company has a market cap of C$3.81 billion, a PE ratio of 58.37 and a beta of 0.50. The business has a 50 day moving average of C$25.64 and a 200 day moving average of C$24.75. Topaz Energy has a 52 week low of C$21.00 and a 52 week high of C$29.51.

Topaz Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Topaz Energy's previous quarterly dividend of $0.33. Topaz Energy's dividend payout ratio is presently 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.

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