Topaz Energy (TSE:TPZ) PT Set at C$34.00 by Raymond James

Raymond James set a C$34.00 price objective on Topaz Energy (TSE:TPZ) in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock. Raymond James also issued estimates for Topaz Energy’s FY2024 earnings at $0.37 EPS, FY2025 earnings at $0.40 EPS and FY2026 earnings at $0.41 EPS.

Several other equities analysts have also recently issued reports on the company. TD Securities raised their price target on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised their target price on shares of Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday, October 23rd. Desjardins boosted their price target on shares of Topaz Energy from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. National Bankshares raised their price objective on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$30.79.

Topaz Energy Price Performance

Shares of TPZ stock opened at C$26.69 on Tuesday. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$27.78. The stock has a market capitalization of C$3.87 billion, a PE ratio of 72.14 and a beta of 0.50. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The stock’s fifty day moving average is C$26.27 and its 200-day moving average is C$24.60.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, September 13th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is currently 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.