Topaz Energy Corp. to Issue Quarterly Dividend of $0.32 (TSE:TPZ)

Topaz Energy Corp. (TSE:TPZ - Get Free Report) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.32 per share on Friday, June 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Friday, June 14th.

Topaz Energy Trading Down 2.3 %

Shares of TSE:TPZ traded down C$0.52 during midday trading on Wednesday, reaching C$22.27. 436,756 shares of the company's stock were exchanged, compared to its average volume of 304,360. The firm's 50 day simple moving average is C$21.82 and its two-hundred day simple moving average is C$20.48. The company has a debt-to-equity ratio of 30.43, a current ratio of 2.47 and a quick ratio of 7.17. The stock has a market cap of C$3.22 billion, a price-to-earnings ratio of 69.06 and a beta of 0.48. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$23.17.

Topaz Energy (TSE:TPZ - Get Free Report) last issued its quarterly earnings data on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.62% and a net margin of 14.62%. The firm had revenue of C$82.78 million during the quarter, compared to the consensus estimate of C$79.00 million. As a group, sell-side analysts forecast that Topaz Energy will post 0.2575141 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. National Bankshares lowered their target price on Topaz Energy from C$30.00 to C$27.50 and set an "outperform" rating for the company in a report on Wednesday, January 10th. TD Securities raised their target price on Topaz Energy from C$24.00 to C$25.00 and gave the company a "buy" rating in a report on Tuesday, March 5th. BMO Capital Markets set a C$27.00 price objective on Topaz Energy and gave the company an "outperform" rating in a research note on Wednesday, March 13th. Scotiabank decreased their price objective on Topaz Energy from C$32.00 to C$30.00 and set an "outperform" rating for the company in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their price objective on Topaz Energy from C$26.00 to C$27.00 and gave the company an "outperform" rating in a research note on Tuesday. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$26.88.

Insider Buying and Selling

In related news, Director Stephen Phillip Larke sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total transaction of C$4,470,000.00. 35.67% of the stock is owned by company insiders.

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.