Desjardins Boosts Topaz Energy (TSE:TPZ) Price Target to C$31.00

Topaz Energy (TSE:TPZ) had its target price raised by Desjardins from C$30.00 to C$31.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on TPZ. Canaccord Genuity Group upped their target price on Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday. Jefferies Financial Group raised their target price on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. National Bankshares increased their price objective on Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on 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. Finally, BMO Capital Markets increased 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 research report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Topaz Energy presently has an average rating of “Buy” and an average target price of C$30.04.

Topaz Energy Trading Up 0.4 %

Shares of TPZ stock opened at C$27.31 on Wednesday. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The stock has a 50-day simple moving average of C$26.22 and a 200 day simple moving average of C$24.48. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78. The stock has a market capitalization of C$3.96 billion, a P/E ratio of 73.81 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The company had revenue of C$78.41 million during the quarter, compared to analyst estimates of C$80.00 million. On average, sell-side analysts expect that Topaz Energy will post 0.2019855 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.83%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 13th. Topaz Energy’s payout ratio is currently 356.76%.

About Topaz Energy

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.