Desjardins upgraded shares of Topaz Energy (TSE:TPZ – Free Report) to a moderate buy rating in a report released on Tuesday morning, Zacks.com reports.
A number of other brokerages also recently weighed in on TPZ. BMO Capital Markets boosted their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their target price 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. ATB Capital lowered shares of Topaz Energy from an “overweight” rating to a “neutral” rating and raised their price target for the stock from C$30.00 to C$31.00 in a research note on Wednesday. Jefferies Financial Group lifted their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, TD Securities increased their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Topaz Energy presently has a consensus rating of “Buy” and a consensus price target of C$30.04.
Get Our Latest Analysis on TPZ
Topaz Energy Price Performance
Topaz Energy (TSE:TPZ – Get Free Report) last announced its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of C$80.00 million. Sell-side analysts anticipate that Topaz Energy will post 0.2019855 earnings per share for the current fiscal year.
Topaz Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a $0.33 dividend. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.83%. Topaz Energy’s dividend payout ratio is 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.
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