Scotiabank Increases Topaz Energy (TSE:TPZ) Price Target to C$35.00

Topaz Energy (TSE:TPZ) had its price target upped by Scotiabank from C$34.00 to C$35.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. TD Securities raised their target price on shares of Topaz Energy from C$27.00 to C$28.00 in a research note on Tuesday, October 1st. BMO Capital Markets upped their target price on Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. CIBC lifted their price target on Topaz Energy from C$27.00 to C$30.00 in a report on Monday, July 15th. Canaccord Genuity Group upped their price objective on Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$30.04.

Topaz Energy Trading Up 1.1 %

Shares of TSE:TPZ opened at C$27.21 on Tuesday. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$27.78. 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 company has a market capitalization of C$3.94 billion, a P/E ratio of 73.54 and a beta of 0.50. The company has a 50-day simple moving average of C$26.19 and a 200 day simple moving average of C$24.45.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, July 29th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. The company had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Sell-side analysts forecast that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.33 per share. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 13th. This represents a $1.32 annualized dividend and a yield of 4.85%. Topaz Energy’s dividend 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.