Topaz Energy (TSE:TPZ) Shares Up 0.9% – Time to Buy?

Topaz Energy Corp. (TSE:TPZ)’s stock price shot up 0.9% during trading on Tuesday . The company traded as high as C$31.36 and last traded at C$31.31. Approximately 350,997 shares changed hands during trading, a decline of 38% from the average daily volume of 568,097 shares. The stock had previously closed at C$31.02.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPZ. TD lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Scotiabank raised Topaz Energy to a “strong-buy” rating in a research report on Friday, June 26th. ATB Cormark Capital Markets lifted their price objective on shares of 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 boosted their target price on shares of Topaz Energy from C$34.50 to C$35.25 in a research note on Tuesday, July 28th. Finally, BMO Capital Markets raised their price target on shares of Topaz Energy from C$35.50 to C$36.50 in a research report on Tuesday, July 28th. One investment 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 stock. Based on data from MarketBeat, Topaz Energy presently has a consensus rating of “Buy” and an average price target of C$34.07.

Topaz Energy Price Performance

The company has a debt-to-equity ratio of 36.22, a current ratio of 3.48 and a quick ratio of 7.17. The company has a fifty day moving average price of C$31.05 and a 200 day moving average price of C$31.02. The company has a market capitalization of C$4.85 billion, a P/E ratio of 33.67 and a beta of 0.34.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. Topaz Energy had a return on equity of 12.16% and a net margin of 48.58%.The business had revenue of C$115.39 million for the quarter. On average, sell-side analysts forecast that Topaz Energy Corp. will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid 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 dividend on an annualized basis and a yield of 4.5%. Topaz Energy’s dividend payout ratio (DPR) is 147.31%.

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.