Topaz Energy (TSE:TPZ) Sets New 1-Year High – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$28.75 and last traded at C$28.75, with a volume of 247493 shares. The stock had previously closed at C$28.17.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Raymond James Financial raised their price objective on shares of Topaz Energy from C$31.00 to C$32.00 in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Strong Buy” and an average target price of C$31.70.

Topaz Energy Stock Performance

The company has a market cap of C$4.45 billion, a PE ratio of 78.14 and a beta of 0.29. The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89. The stock’s 50-day simple moving average is C$26.12 and its 200 day simple moving average is C$25.72.

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

Topaz Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Topaz Energy’s dividend payout ratio is 362.16%.

Insider Buying and Selling 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 purchased 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 directly owned 443,470 shares in the company, valued at C$11,179,878.70. This represents a 2.31% increase in their ownership of the stock. 35.66% of the stock is currently owned by company insiders.

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.