Jefferies Financial Group Cuts Topaz Energy (TSE:TPZ) Price Target to C$30.00

Topaz Energy (TSE:TPZ) had its price objective cut by Jefferies Financial Group from C$31.00 to C$30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Several other research firms have also issued reports on TPZ. National Bankshares set a C$33.50 price objective on Topaz Energy and gave the company an “outperform” rating in a research note on Friday, January 9th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Finally, Raymond James Financial raised their price target on Topaz Energy from C$32.00 to C$34.00 in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, Topaz Energy has an average rating of “Buy” and an average price target of C$31.40.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$28.14 on Tuesday. The company has a fifty day moving average price of C$27.54 and a two-hundred day moving average price of C$26.15. Topaz Energy has a one year low of C$21.00 and a one year high of C$29.17. The stock has a market cap of C$4.33 billion, a P/E ratio of 76.05 and a beta of 0.16. The company has a debt-to-equity ratio of 36.45, a current ratio of 1.89 and a quick ratio of 7.17.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, November 3rd. The company reported C$0.10 earnings per share for the quarter. Topaz Energy had a net margin of 20.54% and a return on equity of 5.15%. The company had revenue of C$76.44 million for the quarter. As a group, equities analysts predict that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.8%. Topaz Energy’s dividend payout ratio (DPR) is currently 362.16%.

Insider Activity at Topaz Energy

In other Topaz Energy news, Director Mike Rose purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of C$25.21 per share, for a total transaction of C$252,100.00. Following the completion of the purchase, the director owned 443,470 shares of the company’s stock, valued at approximately C$11,179,878.70. The trade was a 2.31% increase in their position. Company insiders own 35.66% of the company’s stock.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.