Topaz Energy (TSE:TPZ) Trading 0.4% Higher - Should You Buy?

Key Points

• Topaz Energy shares rose 0.4% on Tuesday, trading at C$32.15 after touching an intraday high of C$32.37, with volume running about 31% above average.
• Analyst sentiment remains mostly positive: the stock has one Strong Buy, eight Buy ratings, and one Hold, with a consensus Buy and an average price target of C$33.65.
• The company recently raised its quarterly dividend to C$0.35 per share from C$0.34, implying a 4.4% annualized yield, while its latest quarter showed EPS of C$0.25 on revenue of C$88.66 million.

Topaz Energy Corp. (TSE:TPZ - Get Free Report) traded up 0.4% on Tuesday . The company traded as high as C$32.37 and last traded at C$32.15. Approximately 768,189 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 587,608 shares. The stock had previously closed at C$32.02.

Analyst Ratings Changes

Several research firms recently issued reports on TPZ. ATB Cormark Capital Markets increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Raymond James Financial downgraded Topaz Energy from a "moderate buy" rating to a "hold" rating and set a C$35.00 target price for the company. in a research report on Monday, March 30th. Scotiabank upgraded shares of Topaz Energy to a "strong-buy" rating in a research note on Friday, June 26th. Finally, TD increased their price target on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$33.65.

Topaz Energy Trading Up 0.4%

The company's 50 day simple moving average is C$31.58 and its 200 day simple moving average is C$30.48. The firm has a market cap of C$4.98 billion, a price-to-earnings ratio of 36.95 and a beta of 0.35. The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17.

Topaz Energy (TSE:TPZ - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C$0.25 earnings per share (EPS) for the quarter. The business had revenue of C$88.66 million for the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%. As a group, research analysts expect that Topaz Energy Corp. will post 0.2019855 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.35 per share. This is a positive change from Topaz Energy's previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 15th. This represents a $1.40 annualized dividend and a yield of 4.4%. Topaz Energy's dividend payout ratio (DPR) is currently 156.32%.

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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