Topaz Energy (TSE:TPZ) Trading Up 0.2% - Should You Buy?

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s share price was up 0.2% during mid-day trading on Friday . The company traded as high as C$25.59 and last traded at C$25.48. Approximately 194,977 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 362,158 shares. The stock had previously closed at C$25.44.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TPZ shares. Desjardins reduced their price target on shares of Topaz Energy from C$32.00 to C$29.50 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. CIBC cut their price objective on shares of Topaz Energy from C$32.00 to C$30.00 in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Topaz Energy currently has an average rating of "Moderate Buy" and an average target price of C$31.64.

Topaz Energy Price Performance

The stock's 50-day moving average is C$25.39 and its 200 day moving average is C$25.06. The stock has a market capitalization of C$3.91 billion, a PE ratio of 59.97 and a beta of 0.50. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Topaz Energy's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 5.32%. Topaz Energy's payout ratio is 309.94%.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.