Topaz Energy (TSE:TPZ) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark Capital Markets raised Topaz Energy's price objective from C$34 to C$35 and maintained an outperform rating, implying roughly a 10.58% upside from the prior close.
• Analyst consensus is a Buy (1 Strong Buy, 8 Buy, 1 Hold) with an average target of C$33.65, which is above the current share price.
• Topaz reported C$0.25 EPS and C$88.66M revenue for the quarter; shares traded at C$31.65 with a market cap of C$4.89B and a P/E of 38.13.

Topaz Energy (TSE:TPZ - Get Free Report) had its price objective boosted by stock analysts at ATB Cormark Capital Markets from C$34.00 to C$35.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 10.58% from the company's previous close.

A number of other equities research analysts also recently weighed in on TPZ. Raymond James Financial downgraded shares of 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. Jefferies Financial Group cut their price target on Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce boosted their price target on Topaz Energy from C$29.00 to C$33.50 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the company an "outperform" rating in a research note on Friday, January 9th. Finally, TD Securities boosted their price target on Topaz Energy from C$30.00 to C$33.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$33.65.

Topaz Energy Stock Performance

Shares of TPZ stock traded down C$0.14 during midday trading on Wednesday, hitting C$31.65. 415,540 shares of the company were exchanged, compared to its average volume of 624,844. The firm has a market capitalization of C$4.89 billion, a P/E ratio of 38.13 and a beta of 0.21. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26. The firm's 50 day moving average price is C$31.00 and its two-hundred day moving average price is C$28.59. Topaz Energy has a 52 week low of C$23.34 and a 52 week high of C$32.46.

Topaz Energy (TSE:TPZ - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported C$0.25 EPS for the quarter. The business had revenue of C$88.66 million during the quarter. Topaz Energy had a net margin of 39.18% and a return on equity of 9.77%. As a group, equities research analysts anticipate that Topaz Energy will post 0.2019855 earnings per share for the current year.

About Topaz Energy

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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