Topaz Energy Corp. (TSE:TPZ) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Topaz Energy Corp. (TSE:TPZ) have earned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$33.65.

A number of equities analysts recently issued reports on the company. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. Raymond James Financial downgraded Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price for the company. in a report on Monday, March 30th. TD increased their price target on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, ATB Cormark Capital Markets lifted their price target on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th.

Topaz Energy Trading Down 0.6%

Topaz Energy stock opened at C$32.68 on Friday. The company has a debt-to-equity ratio of 35.87, a quick ratio of 7.17 and a current ratio of 2.93. The firm has a market cap of C$5.06 billion, a price-to-earnings ratio of 37.56 and a beta of 0.35. Topaz Energy has a 1 year low of C$24.37 and a 1 year high of C$33.91. The firm’s 50 day moving average price is C$31.59 and its two-hundred day moving average price is C$30.57.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.25 earnings per share (EPS) for the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%.The company had revenue of C$88.66 million for the quarter. On average, research analysts predict that Topaz Energy will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.35 dividend. The ex-dividend date 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 4.3%. Topaz Energy’s dividend payout ratio is 156.32%.

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.