Topaz Energy Corp. (TSE:TPZ) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Topaz Energy Corp. (TSE:TPZ) have been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$28.96.

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Desjardins raised their target price on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Canaccord Genuity Group raised their price target on shares of Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Finally, BMO Capital Markets raised their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th.

Topaz Energy Stock Performance

TSE TPZ opened at C$25.66 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The firm has a market capitalization of C$3.72 billion, a price-to-earnings ratio of 69.35 and a beta of 0.51. The firm’s 50 day simple moving average is C$25.49 and its 200 day simple moving average is C$23.76. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$26.93.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The firm had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. As a group, research analysts expect that Topaz Energy will post 0.183663 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio (DPR) is currently 356.76%.

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.