Brokerages Set Topaz Energy Corp. (TSE:TPZ) Price Target at C$26.55

Topaz Energy Corp. (TSE:TPZ) has received a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$26.86.

Several analysts recently weighed in on TPZ shares. Stifel Nicolaus lifted their price target on shares of Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank lowered 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 report on Tuesday, January 16th. BMO Capital Markets set a C$27.00 price objective on Topaz Energy and gave the company an “outperform” rating in a research report on Wednesday, March 13th. National Bankshares lowered their price objective on Topaz Energy from C$30.00 to C$27.50 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Finally, CIBC raised their price objective on Topaz Energy from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research report on Monday.

Insider Transactions at Topaz Energy

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

Topaz Energy Stock Up 1.2 %

Shares of TSE TPZ opened at C$22.50 on Friday. Topaz Energy has a one year low of C$18.03 and a one year high of C$23.17. 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 firm’s 50 day simple moving average is C$21.56 and its two-hundred day simple moving average is C$20.46. The stock has a market capitalization of C$3.26 billion, a P/E ratio of 68.18 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of C$79.00 million. As a group, analysts expect that Topaz Energy will post 0.2818351 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.69%. The ex-dividend date was Thursday, March 14th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.31. Topaz Energy’s payout ratio is currently 387.88%.

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.