Scotiabank Increases Topaz Energy (TSE:TPZ) Price Target to C$35.00

Topaz Energy (TSE:TPZ) had its price target raised by Scotiabank from C$34.00 to C$35.00 in a research report report published on Tuesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on TPZ. Desjardins raised their price target on Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. CIBC raised their target price on shares of Topaz Energy from C$27.00 to C$30.00 in a report on Monday, July 15th. Jefferies Financial Group upped their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Finally, National Bankshares upped their target price on shares of Topaz Energy from C$28.50 to C$32.50 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$30.04.

Topaz Energy Stock Performance

Shares of TPZ opened at C$27.31 on Tuesday. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$27.78. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52. The stock has a market cap of C$3.96 billion, a price-to-earnings ratio of 73.81 and a beta of 0.50. The business has a 50-day simple moving average of C$26.22 and a two-hundred day simple moving average of C$24.48.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The firm had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. On average, analysts expect that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.33 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.32 annualized dividend and a yield of 4.83%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio (DPR) is presently 356.76%.

Topaz Energy Company Profile

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.