CIBC Issues Positive Forecast for Topaz Energy (TSE:TPZ) Stock Price

Topaz Energy (TSE:TPZ) had its target price raised by CIBC from C$31.00 to C$32.00 in a research report released on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also commented on TPZ. ATB Capital lowered Topaz Energy from an “overweight” rating to a “neutral” rating and upped their target price for the company from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped their price objective on shares of Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on shares of Topaz Energy from C$30.00 to C$32.00 in a report on Wednesday, November 6th. Desjardins upped their price target on shares of Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, National Bankshares increased their price target on Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Topaz Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$31.54.

Topaz Energy Stock Performance

Shares of TPZ opened at C$27.12 on Friday. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The stock has a 50-day moving average of C$27.57 and a two-hundred day moving average of C$26.44. The stock has a market cap of C$3.93 billion, a P/E ratio of 73.30 and a beta of 0.50. Topaz Energy has a one year low of C$18.59 and a one year high of C$29.51.

Topaz Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Friday, December 13th. Topaz Energy’s payout ratio is currently 356.76%.

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.