Brokerages Set Topaz Energy Corp. (TSE:TPZ) PT at C$31.64

Shares of Topaz Energy Corp. (TSE:TPZ) have earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$31.64.

A number of analysts have recently weighed in on TPZ shares. Scotiabank increased their price objective on shares of Topaz Energy from C$35.00 to C$36.00 in a research note on Friday, January 17th. CIBC reduced their price objective on Topaz Energy from C$32.00 to C$30.00 in a research note on Thursday, April 10th. Finally, Desjardins dropped their target price on Topaz Energy from C$32.00 to C$29.50 and set a “buy” rating on the stock in a report on Wednesday, March 19th.

Insiders Place Their Bets

In other news, Senior Officer Cheree Stephenson bought 2,110 shares of Topaz Energy stock in a transaction on Friday, March 7th. The stock was acquired at an average price of C$23.68 per share, with a total value of C$49,964.80. 35.66% of the stock is currently owned by company insiders.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$24.05 on Thursday. Topaz Energy has a 52 week low of C$21.00 and a 52 week high of C$29.51. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. The firm has a market cap of C$3.68 billion, a P/E ratio of 56.47 and a beta of 0.50. The business’s 50 day moving average price is C$23.47 and its 200 day moving average price is C$25.70.

Topaz Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.33 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 5.49%. Topaz Energy’s dividend payout ratio is currently 309.94%.

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.