Stifel Nicolaus Raises Topaz Energy (TSE:TPZ) Price Target to C$27.00

Topaz Energy (TSE:TPZ) had its price objective boosted by Stifel Nicolaus from C$25.00 to C$27.00 in a research report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on TPZ. TD Securities boosted their target price on shares of Topaz Energy from C$24.00 to C$25.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Canaccord Genuity Group boosted their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a buy rating in a research note on Tuesday, March 5th. Jefferies Financial Group set a C$23.00 price objective on Topaz Energy and gave the stock a buy rating in a research note on Tuesday, February 27th. BMO Capital Markets set a C$27.00 price objective on Topaz Energy and gave the stock an outperform rating in a research note on Wednesday, March 13th. Finally, Raymond James reduced their price objective on Topaz Energy from C$27.00 to C$25.00 and set a strong-buy rating for the company in a research note on Friday, January 19th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of C$26.86.

Topaz Energy Stock Performance

Shares of TPZ opened at C$22.68 on Tuesday. The company has a quick ratio of 7.17, a current ratio of 8.52 and a debt-to-equity ratio of 31.49. The business’s 50 day moving average price is C$21.62 and its 200-day moving average price is C$20.47. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$23.17. The stock has a market cap of C$3.28 billion, a P/E ratio of 68.18 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.07. The business had revenue of C$82.78 million for the quarter, compared to analysts’ expectations of C$79.00 million. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. Equities research analysts anticipate that Topaz Energy will post 0.2818351 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.31. Topaz Energy’s dividend payout ratio is 387.88%.

Insider Buying and Selling at Topaz Energy

In related news, Director Stephen Phillip Larke sold 200,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00. Insiders own 35.55% of the company’s stock.

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.