Topaz Energy (TSE:TPZ) Price Target Increased to C$27.00 by Analysts at Royal Bank of Canada

Topaz Energy (TSE:TPZ - Free Report) had its price target boosted by Royal Bank of Canada from C$26.00 to C$27.00 in a research report report published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on TPZ. Stifel Nicolaus boosted their target price on shares of Topaz Energy from C$25.00 to C$27.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Desjardins cut their price target on shares of Topaz Energy from C$27.50 to C$26.50 and set a buy rating on the stock in a report on Tuesday, January 23rd. TD Securities boosted their price target on shares of Topaz Energy from C$24.00 to C$25.00 and gave the stock a buy rating in a report on Tuesday, March 5th. BMO Capital Markets set a C$27.00 price target on shares of Topaz Energy and gave the stock an outperform rating in a report on Wednesday, March 13th. Finally, CIBC boosted their price target on shares of Topaz Energy from C$24.00 to C$26.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of C$26.88.

Topaz Energy Stock Down 1.3 %

Shares of TSE:TPZ traded down C$0.31 during midday trading on Tuesday, hitting C$22.79. 348,059 shares of the company's stock were exchanged, compared to its average volume of 302,784. The company has a debt-to-equity ratio of 31.49, a current ratio of 8.52 and a quick ratio of 7.17. The stock has a 50 day moving average price of C$21.76 and a 200-day moving average price of C$20.48. The company has a market cap of C$3.30 billion, a PE ratio of 69.45 and a beta of 0.48. Topaz Energy has a 12 month low of C$18.03 and a 12 month high of C$23.17.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its earnings results on Monday, March 4th. The company reported C$0.13 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.07. The company had revenue of C$82.78 million during the quarter, compared to the consensus estimate of C$79.00 million. Topaz Energy had a net margin of 14.82% and a return on equity of 3.66%. On average, sell-side analysts anticipate that Topaz Energy will post 0.2818351 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.62%. This is a boost from Topaz Energy's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, March 14th. Topaz Energy's payout ratio is presently 387.88%.

Insider Buying and Selling at Topaz Energy

In other Topaz Energy news, Director Stephen Phillip Larke sold 200,000 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00. Corporate insiders own 35.55% of the company's stock.

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.