Topaz Energy Corp. (TSE:TPZ) to Issue Quarterly Dividend of $0.33

Topaz Energy Corp. (TSE:TPZ) announced a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.33 per share on Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32.

Topaz Energy Trading Up 4.8 %

TSE:TPZ opened at C$25.76 on Wednesday. The company’s 50 day moving average is C$23.72 and its 200-day moving average is C$22.07. The company has a quick ratio of 7.17, a current ratio of 2.47 and a debt-to-equity ratio of 30.43. Topaz Energy has a 12 month low of C$18.03 and a 12 month high of C$26.10. The firm has a market cap of C$3.73 billion, a price-to-earnings ratio of 80.50 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last announced its earnings results on Monday, April 29th. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.03). Topaz Energy had a return on equity of 3.62% and a net margin of 14.29%. The firm had revenue of C$70.88 million during the quarter, compared to the consensus estimate of C$78.00 million. Equities analysts anticipate that Topaz Energy will post 0.198902 EPS for the current year.

Analyst Ratings Changes

TPZ has been the subject of several research analyst reports. Scotiabank boosted their price objective on Topaz Energy from C$33.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group upped their price target on Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 15th. CIBC raised their price objective on shares of Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. BMO Capital Markets upped their target price on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised their price target on shares of Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Topaz Energy currently has a consensus rating of “Buy” and a consensus target price of C$28.63.

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.