Topaz Energy (TSE:TPZ) Posts Quarterly Earnings Results

Topaz Energy (TSE:TPZGet Free Report) posted its earnings results on Monday. The company reported C$0.29 earnings per share for the quarter, FiscalAI reports. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%. The firm had revenue of C$115.39 million during the quarter.

Topaz Energy Price Performance

Shares of TPZ traded down C$0.78 during mid-day trading on Monday, hitting C$31.90. 279,838 shares of the company were exchanged, compared to its average volume of 578,940. The stock has a market cap of C$4.94 billion, a price-to-earnings ratio of 36.67 and a beta of 0.35. Topaz Energy has a 1-year low of C$24.37 and a 1-year high of C$33.91. The company has a 50 day moving average of C$31.59 and a 200-day moving average of C$30.59. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93.

Topaz Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.35 per share. This is a boost from Topaz Energy’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 15th. This represents a $1.40 annualized dividend and a dividend yield of 4.4%. Topaz Energy’s payout ratio is currently 156.32%.

Analyst Ratings Changes

A number of brokerages have issued reports on TPZ. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial cut Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price objective for the company. in a research report on Monday, March 30th. ATB Cormark Capital Markets upped their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, TD increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$33.65.

Read Our Latest Report on TPZ

About Topaz Energy

(Get Free Report)

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.

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Earnings History for Topaz Energy (TSE:TPZ)

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