Topaz Energy (TSE:TPZ) Price Target Increased to C$26.00 by Analysts at CIBC

Topaz Energy (TSE:TPZ) had its target price raised by CIBC from C$24.00 to C$26.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also weighed in on TPZ. Jefferies Financial Group set a C$23.00 target price on shares of Topaz Energy and gave the stock a buy rating in a report on Tuesday, February 27th. National Bankshares decreased their price objective on shares of Topaz Energy from C$30.00 to C$27.50 and set an outperform rating on the stock in a report on Wednesday, January 10th. Canaccord Genuity Group increased their price objective on shares of Topaz Energy from C$27.50 to C$28.50 and gave the stock a buy rating in a report on Tuesday, March 5th. TD Securities increased their price objective on shares of Topaz Energy from C$24.00 to C$25.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets set a C$27.00 price objective on shares of Topaz Energy and gave the stock an outperform rating in a report on Wednesday, March 13th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and a consensus price target of C$26.73.

Topaz Energy Trading Down 0.2 %

Shares of Topaz Energy stock opened at C$22.36 on Monday. The company’s fifty day moving average price is C$21.35 and its two-hundred day moving average price is C$20.43. The company has a debt-to-equity ratio of 31.49, a current ratio of 8.52 and a quick ratio of 7.17. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$23.17. The firm has a market capitalization of C$3.24 billion, a PE ratio of 67.76 and a beta of 0.48.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, March 4th. The company reported C$0.13 earnings per share for the quarter, topping the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a net margin of 14.82% and a return on equity of 3.66%. The business had revenue of C$82.78 million for the quarter, compared to analyst estimates of C$79.00 million. On average, analysts expect that Topaz Energy will post 0.2818351 EPS for the current year.

Topaz Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 5.72%. Topaz Energy’s dividend payout ratio is presently 387.88%.

Insider Buying and Selling at Topaz Energy

In related news, Director Stephen Phillip Larke sold 200,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00. Corporate insiders own 35.55% of the company’s stock.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.