Topaz Energy (TSE:TPZ) Given New C$36.50 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised Topaz Energy’s price target to C$36.50 from C$35.50, implying approximately 15% upside from the previous close.
• Analyst sentiment remains positive: Topaz has a consensus “Buy” rating and a consensus target price of C$34.07, with one Strong Buy, eight Buy, and one Hold rating.
• Topaz reported quarterly EPS of C$0.29 on revenue of C$115.39 million, alongside a 45.79% net margin and 10.95% return on equity.

Topaz Energy (TSE:TPZ - Get Free Report) had its price objective boosted by BMO Capital Markets from C$35.50 to C$36.50 in a research note issued on Tuesday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential upside of 14.96% from the stock's previous close.

TPZ has been the topic of a number of other research reports. Scotiabank raised shares of Topaz Energy to a "strong-buy" rating in a research note on Friday, June 26th. ATB Cormark Capital Markets lifted their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Raymond James Financial lowered Topaz Energy from a "moderate buy" rating to a "hold" rating and set a C$35.00 price objective on the stock. in a research note on Monday, March 30th. Finally, TD increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Topaz Energy presently has a consensus rating of "Buy" and a consensus target price of C$34.07.

Topaz Energy Stock Performance

Shares of TSE TPZ traded down C$0.15 during trading hours on Tuesday, reaching C$31.75. The stock had a trading volume of 155,114 shares, compared to its average volume of 575,954. Topaz Energy has a twelve month low of C$24.37 and a twelve month high of C$33.91. The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17. The business's fifty day moving average is C$31.57 and its two-hundred day moving average is C$30.63. The company has a market cap of C$4.91 billion, a price-to-earnings ratio of 36.49 and a beta of 0.35.

Topaz Energy (TSE:TPZ - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%. The firm had revenue of C$115.39 million for the quarter. As a group, research analysts expect that Topaz Energy will post 0.2019855 EPS for the current year.

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. 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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