Topaz Energy (TSE:TPZ) Lowered to "Market Perform" Rating by Raymond James Financial

Key Points

• Raymond James downgraded Topaz Energy from "outperform" to "market perform" and set a C$35.00 price target, implying about a 10.9% upside from the current price.
• Despite that downgrade, the stock maintains a consensus "Buy" rating (one Strong Buy, seven Buy, one Hold) with a consensus price target of C$33.28 from analysts.
• Topaz shares recently traded at C$31.57 (down 0.3%), with a market cap of C$4.88 billion, a P/E of 38.04, and a 52-week range of C$21.00–C$32.46.

Topaz Energy (TSE:TPZ - Get Free Report) was downgraded by equities research analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They currently have a C$35.00 price target on the stock. Raymond James Financial's price objective points to a potential upside of 10.86% from the stock's current price.

TPZ has been the topic of a number of other research reports. Jefferies Financial Group lowered their price objective on shares of Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. Desjardins boosted their price objective on Topaz Energy from C$31.00 to C$32.50 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Royal Bank Of Canada boosted their price target on shares of Topaz Energy from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. ATB Cormark Capital Markets upped their price target on shares of Topaz Energy from C$31.00 to C$33.00 and gave the company a "moderate buy" rating in a report on Wednesday, February 25th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Topaz Energy from C$29.00 to C$33.50 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$33.28.

Topaz Energy Stock Down 0.3%

Shares of Topaz Energy stock traded down C$0.10 during trading on Monday, reaching C$31.57. The company had a trading volume of 259,911 shares, compared to its average volume of 640,431. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26. Topaz Energy has a fifty-two week low of C$21.00 and a fifty-two week high of C$32.46. The firm's fifty day moving average is C$30.00 and its 200-day moving average is C$27.74. The company has a market cap of C$4.88 billion, a price-to-earnings ratio of 38.04 and a beta of 0.21.

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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