Topaz Energy Corp. (TSE:TPZ) Given Average Recommendation of “Buy” by Analysts

Shares of Topaz Energy Corp. (TSE:TPZ) have earned an average recommendation of “Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$33.28.

Several research firms have issued reports on TPZ. TD Securities upped their target price on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a research note on Wednesday, April 1st. Desjardins upped their target price on shares of Topaz Energy from C$31.00 to C$32.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce upped their target price on shares of Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, ATB Cormark Capital Markets upped their target price on shares of Topaz Energy from C$31.00 to C$33.00 and gave the company a “moderate buy” rating in a research note on Wednesday, February 25th.

Topaz Energy Price Performance

TPZ opened at C$30.36 on Thursday. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26. The stock has a market capitalization of C$4.69 billion, a P/E ratio of 36.58 and a beta of 0.20. The company’s 50-day simple moving average is C$30.58 and its two-hundred day simple moving average is C$28.17. Topaz Energy has a 52-week low of C$22.78 and a 52-week high of C$32.46.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.34 per share. The ex-dividend date was Friday, March 13th. This represents a $1.36 annualized dividend and a yield of 4.5%. Topaz Energy’s dividend payout ratio is currently 162.65%.

About Topaz Energy

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.