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

Key Points

• Topaz Energy Corp. has received a consensus rating of "Moderate Buy" from five analysts, with an average twelve-month price target of C$31.80.
• The company recently announced a quarterly dividend of $0.34 per share, which translates to a 5.3% dividend yield.
• Insider transactions were noted, as Director Mike Rose purchased 10,000 shares at an average cost of C$25.37 per share, indicating insider confidence in the company's prospects.

Shares of Topaz Energy Corp. (TSE:TPZ - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$31.80.

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

Topaz Energy Stock Up 0.9%

Shares of TSE TPZ traded up C$0.23 during trading hours on Thursday, hitting C$25.46. 40,886 shares of the stock were exchanged, compared to its average volume of 337,799. 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$3.92 billion, a PE ratio of 62.10 and a beta of 0.27. The firm has a fifty day moving average price of C$25.33 and a 200-day moving average price of C$24.73. Topaz Energy has a 12 month low of C$21.00 and a 12 month high of C$29.51.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, September 15th. Topaz Energy's payout ratio is currently 324.39%.

Insiders Place Their Bets

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

Topaz Energy Company Profile

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.