Topaz Energy (TSE:TPZ) Downgraded by ATB Capital to Neutral

ATB Capital lowered shares of Topaz Energy (TSE:TPZ) from an overweight rating to a neutral rating in a report released on Wednesday, BayStreet.CA reports. The firm currently has C$31.00 price target on the stock, up from their prior price target of C$30.00.

Several other equities research analysts also recently weighed in on TPZ. Jefferies Financial Group raised their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. National Bankshares raised their target price on Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group lifted their target price on shares of Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday. Desjardins upped their price target on Topaz Energy from C$26.50 to C$28.50 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, CIBC raised their price objective on Topaz Energy from C$30.00 to C$31.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Topaz Energy has an average rating of “Buy” and an average target price of C$30.04.

Topaz Energy Price Performance

Shares of Topaz Energy stock opened at C$26.92 on Wednesday. The firm has a market capitalization of C$3.90 billion, a PE ratio of 72.76 and a beta of 0.50. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. Topaz Energy has a 12 month low of C$18.03 and a 12 month high of C$27.78. The business’s 50-day moving average price is C$26.17 and its 200-day moving average price is C$24.43.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 29th. The company reported C$0.12 EPS for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts forecast that Topaz Energy will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.33 per share. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Friday, September 13th. Topaz Energy’s dividend payout ratio (DPR) is presently 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.