Topaz Energy Corp. (TSE:TPZ) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Consensus "Buy" — Nine analysts cover Topaz (seven Buy, one Strong Buy, one Hold) with an average 12‑month target of C$33.28; several firms recently raised targets (Canaccord C$35, RBC C$34, Scotiabank upgraded to Strong‑Buy).
• Attractive dividend but high payout — Topaz paid a quarterly dividend of C$0.34 (C$1.36 annualized) for a 4.5% yield, but the payout ratio is 162.65%, suggesting the dividend may be unsustainably high relative to earnings.

Shares of Topaz Energy Corp. (TSE:TPZ - Get Free Report) have received a consensus recommendation of "Buy" from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$33.28.

Several research firms have commented on TPZ. Canaccord Genuity Group lifted their target price on shares of Topaz Energy from C$33.00 to C$35.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Scotiabank raised shares of Topaz Energy to a "strong-buy" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada lifted their target price on shares of Topaz Energy from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Thursday, February 26th. Raymond James Financial downgraded shares of Topaz Energy from a "moderate buy" rating to a "hold" rating and set a C$35.00 target price on the stock. in a research note on Monday, March 30th. Finally, ATB Cormark Capital Markets lifted their target price on shares of Topaz Energy from C$31.00 to C$33.00 and gave the stock a "moderate buy" rating in a research note on Wednesday, February 25th.

Topaz Energy Trading Down 0.6%

Shares of Topaz Energy stock opened at C$30.36 on Thursday. The firm has a market cap of C$4.69 billion, a PE ratio of 36.58 and a beta of 0.20. Topaz Energy has a 1 year low of C$22.78 and a 1 year high of C$32.46. The company has a 50 day simple moving average of C$30.58 and a two-hundred day simple moving average of C$28.17. The company has a debt-to-equity ratio of 37.54, a current ratio of 11.26 and a quick ratio of 7.17.

Topaz Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, March 13th. Topaz Energy's payout ratio is presently 162.65%.

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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