Topaz Energy (TSE:TPZ) Price Target Raised to C$35.00

Key Points

• TD raised its price target to C$35.00 (from C$34.00) and kept a "buy" rating, implying a potential upside of about 10.58%, while the analyst consensus is an average "Buy" with an average target of C$33.65 (1 Strong Buy, 8 Buy, 1 Hold).
• Topaz is trading around C$31.65 with a market cap of C$4.89 billion and a PE of 38.13, sitting between its 1-year low of C$23.34 and high of C$32.46.
• In the latest quarter Topaz reported EPS of C$0.25 on revenue of C$88.66 million, with a high net margin (~39.18%) and ROE of 9.77%, supporting its dividend and free-cash-flow focus.

Topaz Energy (TSE:TPZ - Get Free Report) had its price objective boosted by equities research analysts at TD from C$34.00 to C$35.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price target suggests a potential upside of 10.58% from the stock's previous close.

Several other brokerages have also recently commented on TPZ. Raymond James Financial cut Topaz Energy from a "moderate buy" rating to a "hold" rating and set a C$35.00 price target for the company. in a research report on Monday, March 30th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the stock an "outperform" rating in a research report on Friday, January 9th. Canadian Imperial Bank of Commerce boosted their price target on Topaz Energy from C$29.00 to C$33.50 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. ATB Cormark Capital Markets upped their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Scotiabank upgraded Topaz Energy to a "strong-buy" rating in a report on Wednesday, April 1st. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$33.65.

Topaz Energy Stock Performance

TSE:TPZ traded down C$0.14 during trading hours on Wednesday, reaching C$31.65. The company had a trading volume of 415,540 shares, compared to its average volume of 624,844. Topaz Energy has a 1-year low of C$23.34 and a 1-year high of C$32.46. The firm has a market cap of C$4.89 billion, a PE ratio of 38.13 and a beta of 0.21. The business's 50 day moving average price is C$31.00 and its 200-day moving average price is C$28.59. 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 (TSE:TPZ - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported C$0.25 earnings per share for the quarter. The business had revenue of C$88.66 million during the quarter. Topaz Energy had a return on equity of 9.77% and a net margin of 39.18%. Research analysts forecast 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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