Topaz Energy (TSE:TPZ) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Topaz Energy (TSE:TPZ) had its target price increased by investment analysts at Canaccord Genuity Group from C$33.00 to C$35.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 13.67% from the company’s current price.

Several other equities research analysts also recently weighed in on TPZ. Jefferies Financial Group reduced their price target on shares of Topaz Energy from C$31.00 to C$30.00 in a research report on Tuesday, January 20th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the stock an “outperform” rating in a research note on Friday, January 9th. Canadian Imperial Bank of Commerce upped their price target on Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Finally, Raymond James Financial boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$32.81.

Topaz Energy Trading Up 0.7%

Topaz Energy stock traded up C$0.20 during mid-day trading on Wednesday, reaching C$30.79. 180,258 shares of the company traded hands, compared to its average volume of 441,714. The firm has a market capitalization of C$4.74 billion, a price-to-earnings ratio of 83.22 and a beta of 0.27. The firm’s 50 day moving average price is C$28.02 and its 200 day moving average price is C$26.70. Topaz Energy has a 52-week low of C$21.00 and a 52-week high of C$31.16. 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 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.