Topaz Energy (TSE:TPZ) PT Raised to C$26.00

Topaz Energy (TSE:TPZ - Free Report) had its price target raised by CIBC from C$24.00 to C$26.00 in a research note released on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group set a C$23.00 target price on shares of Topaz Energy and gave the stock a buy rating in a report on Tuesday, February 27th. Scotiabank reduced their price objective on shares of Topaz Energy from C$32.00 to C$30.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. National Bankshares reduced their price objective on shares of Topaz Energy from C$30.00 to C$27.50 and set an outperform rating on the stock in a research note on Wednesday, January 10th. TD Securities upped their price objective on shares of Topaz Energy from C$24.00 to C$25.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a buy rating in a research note on Tuesday, March 5th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of C$26.73.

Topaz Energy Trading Down 0.2 %

TPZ traded down C$0.05 during trading on Monday, reaching C$22.36. 153,549 shares of the company's stock were exchanged, compared to its average volume of 309,992. Topaz Energy has a one year low of C$18.03 and a one year high of C$23.17. The company has a current ratio of 8.52, a quick ratio of 7.17 and a debt-to-equity ratio of 31.49. The stock has a market capitalization of C$3.24 billion, a PE ratio of 67.70 and a beta of 0.48. The firm has a fifty day moving average price of C$21.35 and a two-hundred day moving average price of C$20.43.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its earnings results on Monday, March 4th. The company reported C$0.13 earnings per share for the quarter, topping analysts' consensus estimates of C$0.06 by C$0.07. Topaz Energy had a net margin of 14.82% and a return on equity of 3.66%. The firm had revenue of C$82.78 million for the quarter, compared to analyst estimates of C$79.00 million. As a group, equities research analysts forecast that Topaz Energy will post 0.2818351 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.32 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 5.72%. This is an increase from Topaz Energy's previous quarterly dividend of $0.31. Topaz Energy's dividend payout ratio is currently 387.88%.

Insider Activity at Topaz Energy

In related news, Director Stephen Phillip Larke sold 200,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total transaction of C$4,470,000.00. 35.55% of the stock is owned by company insiders.

Topaz Energy Company Profile

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.