Topaz Energy (TSE:TPZ) Releases Quarterly Earnings Results

Topaz Energy (TSE:TPZ) announced 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 48.58% and a return on equity of 12.16%. The company had revenue of C$115.39 million during the quarter.

Topaz Energy Price Performance

Shares of TPZ opened at C$31.55 on Wednesday. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22. Topaz Energy has a fifty-two week low of C$24.37 and a fifty-two week high of C$33.91. The company has a market cap of C$4.88 billion, a P/E ratio of 36.26 and a beta of 0.35. The firm’s 50 day moving average price is C$31.53 and its 200 day moving average price is C$30.67.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 4.4%. Topaz Energy’s payout ratio is 156.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday. ATB Cormark Capital Markets lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce raised their price target on shares of Topaz Energy from C$34.50 to C$35.25 in a research report on Tuesday. TD upped their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. One 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$34.07.

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.