Topaz Energy Corp. (TSE:TPZ) Given Average Recommendation of "Moderate Buy" by 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 an average recommendation of "Moderate Buy" from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$31.80.

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

Insider Buying and Selling

In other news, Director Mike Rose purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was purchased at an average cost of C$25.37 per share, with a total value of C$253,729.00. 35.66% of the stock is currently owned by insiders.

Topaz Energy Stock Performance

TPZ traded up C$0.44 on Friday, hitting C$25.29. The company's stock had a trading volume of 88,339 shares, compared to its average volume of 333,073. The company's 50 day simple moving average is C$25.56 and its 200-day simple moving average is C$24.75. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. Topaz Energy has a 12 month low of C$21.00 and a 12 month high of C$29.51. The firm has a market cap of C$3.87 billion, a P/E ratio of 59.38 and a beta of 0.50.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 5.4%. 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 payout ratio is 309.94%.

Topaz Energy Company Profile

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.