Topaz Energy (TSE:TPZ) Sets New 52-Week High – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high on Tuesday . The company traded as high as C$32.48 and last traded at C$32.44, with a volume of 160713 shares trading hands. The stock had previously closed at C$31.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Jefferies Financial Group lowered their target price on Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. TD Securities boosted their target price on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group boosted their target price on Topaz Energy from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, ATB Cormark Capital Markets boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$33.65.

Topaz Energy Price Performance

The stock has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 37.37 and a beta of 0.21. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93. The company has a 50 day moving average of C$31.08 and a 200 day moving average of C$28.79.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.25 earnings per share (EPS) for the quarter. The company had revenue of C$88.66 million during the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%. As a group, equities research analysts anticipate that Topaz Energy Corp. will post 0.2019855 EPS for the current year.

Topaz Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, March 13th. Topaz Energy’s payout ratio is 156.32%.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.