Topaz Energy Corp. (TSE:TPZ) Receives Average Recommendation of “Buy” from Brokerages

Topaz Energy Corp. (TSE:TPZ) has earned an average rating of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$26.88.

TPZ has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Topaz Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Stifel Nicolaus raised their price objective on Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets set a C$27.00 price objective on Topaz Energy and gave the company an “outperform” rating in a research note on Wednesday, March 13th. TD Securities raised their price objective on Topaz Energy from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, CIBC raised their price objective on Topaz Energy from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd.

Topaz Energy Stock Down 1.2 %

Shares of TSE TPZ opened at C$22.35 on Thursday. The company has a debt-to-equity ratio of 30.43, a quick ratio of 7.17 and a current ratio of 2.47. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$23.17. The stock has a market capitalization of C$3.24 billion, a P/E ratio of 69.84 and a beta of 0.50. The stock’s fifty day moving average is C$22.40 and its 200 day moving average is C$20.61.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings results on Monday, April 29th. The company reported C$0.04 EPS for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). The company had revenue of C$70.88 million during the quarter, compared to the consensus estimate of C$78.00 million. Topaz Energy had a return on equity of 3.62% and a net margin of 14.29%. Sell-side analysts forecast that Topaz Energy will post 0.2183457 earnings per share for the current fiscal year.

Topaz Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Friday, June 14th. Topaz Energy’s dividend payout ratio (DPR) is currently 400.00%.

Insider Activity at Topaz Energy

In related news, Director Stephen Phillip Larke sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total value of C$4,470,000.00. 35.67% of the stock is currently owned by company insiders.

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.