Topaz Energy (TSE:TPZ) Rating Lowered to “Market Perform” at Raymond James Financial

Topaz Energy (TSE:TPZ) was downgraded by research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$35.00 target price on the stock. Raymond James Financial’s price target would indicate a potential upside of 10.86% from the stock’s current price.

TPZ has been the topic of a number of other reports. Desjardins lifted their target price on Topaz Energy from C$31.00 to C$32.50 and gave the stock a “buy” rating in a research report on Thursday, February 26th. National Bank Financial set a C$33.50 price objective on Topaz Energy and gave the stock an “outperform” rating in a research report on Friday, January 9th. TD Securities boosted their price objective on Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group upped their target price on Topaz Energy from C$33.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group decreased their price target on shares of Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$33.28.

Topaz Energy Stock Performance

Shares of TPZ traded down C$0.10 during mid-day trading on Monday, hitting C$31.57. The company’s stock had a trading volume of 259,911 shares, compared to its average volume of 640,431. Topaz Energy has a one year low of C$21.00 and a one year high of C$32.46. The stock’s 50-day moving average is C$30.00 and its two-hundred day moving average is C$27.74. The firm has a market capitalization of C$4.88 billion, a PE ratio of 38.04 and a beta of 0.21. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26.

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.