Canaccord Genuity Group Raises Topaz Energy (TSE:TPZ) Price Target to C$31.00

Topaz Energy (TSE:TPZ) had its target price hoisted by Canaccord Genuity Group from C$29.50 to C$31.00 in a research note published on Wednesday morning, BayStreet.CA reports.

Several other brokerages also recently weighed in on TPZ. National Bankshares lifted their target price on shares of Topaz Energy from C$28.50 to C$32.50 in a report on Monday, August 19th. TD Securities upped their target price on Topaz Energy from C$27.00 to C$28.00 in a report on Tuesday, October 1st. Desjardins raised their price objective on shares of 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. Jefferies Financial Group boosted their price objective 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. Finally, BMO Capital Markets upped their price objective on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Topaz Energy currently has a consensus rating of “Buy” and a consensus price target of C$30.04.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$27.31 on Wednesday. The stock has a market capitalization of C$3.96 billion, a PE ratio of 73.81 and a beta of 0.50. The firm has a 50 day moving average of C$26.22 and a two-hundred day moving average of C$24.50. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$27.78. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The business had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. On average, research analysts predict that Topaz Energy will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.83%. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend 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.