Brokerages Set Topaz Energy Corp. (TSE:TPZ) PT at C$31.13

Shares of Topaz Energy Corp. (TSE:TPZ) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$31.13.

Several equities analysts have commented on TPZ shares. Royal Bank of Canada increased their target price on Topaz Energy from C$30.00 to C$32.00 in a research report on Wednesday, November 6th. Scotiabank increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group increased their target price on Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday, October 23rd. ATB Capital downgraded Topaz Energy from an “overweight” rating to a “neutral” rating and increased their target price for the company from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. Finally, Desjardins increased their target price on Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$27.94 on Thursday. 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 has a twelve month low of C$18.03 and a twelve month high of C$28.16. The company has a market cap of C$4.05 billion, a P/E ratio of 75.51 and a beta of 0.50. The business has a fifty day simple moving average of C$26.51 and a 200 day simple moving average of C$24.94.

Topaz Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 4.72%. Topaz Energy’s dividend 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.