Topaz Energy Corp. (TPZ) to Issue Quarterly Dividend of $0.35 on September 29th

Topaz Energy Corp. (TSE:TPZ) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of 0.35 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Topaz Energy Stock Performance

Shares of TSE:TPZ traded down C$0.42 during trading on Friday, hitting C$30.79. 359,023 shares of the stock traded hands, compared to its average volume of 566,560. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22. The company has a market cap of C$4.77 billion, a price-to-earnings ratio of 33.11 and a beta of 0.34. The company has a fifty day moving average price of C$31.50 and a two-hundred day moving average price of C$31.38. Topaz Energy has a 52-week low of C$24.37 and a 52-week high of C$33.91.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. The firm had revenue of C$115.39 million for the quarter. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. As a group, equities analysts predict that Topaz Energy will post 0.2019855 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TPZ. BMO Capital Markets increased their target price on shares of Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday, July 28th. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce upped their price target on Topaz Energy from C$34.50 to C$35.25 in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$34.07.

Topaz Energy Company Profile

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.