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

Topaz Energy (TSE:TPZ) had its target price upped by Royal Bank of Canada from C$26.00 to C$27.00 in a research note released on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on TPZ. 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, April 22nd. Desjardins cut their price objective on Topaz Energy from C$27.50 to C$26.50 and set a buy rating for the company in a research report on Tuesday, January 23rd. Raymond James cut their price objective on Topaz Energy from C$27.00 to C$25.00 and set a strong-buy rating for the company in a research report on Friday, January 19th. Jefferies Financial Group set a C$23.00 price objective on Topaz Energy and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, National Bankshares cut 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. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of C$26.88.

Topaz Energy Stock Down 1.3 %

TPZ stock opened at C$22.79 on Tuesday. The company has a quick ratio of 7.17, a current ratio of 2.47 and a debt-to-equity ratio of 30.43. The business has a 50 day moving average price of C$21.82 and a two-hundred day moving average price of C$20.48. The company has a market cap of C$3.30 billion, a price-to-earnings ratio of 69.06 and a beta of 0.48. Topaz Energy has a twelve month low of C$18.03 and a twelve month high of C$23.17.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of C$82.78 million during the quarter, compared to analysts’ expectations of C$79.00 million. Analysts anticipate that Topaz Energy will post 0.2575141 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.62%. 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 dividend payout ratio (DPR) is 387.88%.

Insiders Place Their Bets

In other Topaz Energy news, Director Stephen Phillip Larke sold 200,000 shares of the firm’s stock in a transaction 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. Corporate insiders own 35.67% 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.