Topaz Energy (TSE:TPZ) Sets New 12-Month High – Should You Buy?

Topaz Energy Corp. (TSE:TPZ)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$29.34 and last traded at C$29.32, with a volume of 50891 shares trading hands. The stock had previously closed at C$28.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Raymond James Financial raised their price objective on Topaz Energy from C$32.00 to C$34.00 in a research note on Tuesday, December 9th. Jefferies Financial Group decreased their price target on shares of Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. National Bankshares set a C$33.50 price objective on shares of Topaz Energy and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$31.40.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 36.45, a current ratio of 1.89 and a quick ratio of 7.17. The company’s fifty day moving average price is C$27.66 and its 200 day moving average price is C$26.23. The company has a market cap of C$4.51 billion, a PE ratio of 79.16 and a beta of 0.16.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Monday, November 3rd. The company reported C$0.10 earnings per share (EPS) for the quarter. Topaz Energy had a net margin of 20.54% and a return on equity of 5.15%. The business had revenue of C$76.44 million during the quarter. On average, equities research analysts predict that Topaz Energy Corp. will post 0.2019855 earnings per share for the current year.

Topaz Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.36 annualized dividend and a yield of 4.6%. Topaz Energy’s payout ratio is currently 362.16%.

Insider Activity

In other Topaz Energy news, Director Mike Rose bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of C$25.21 per share, with a total value of C$252,100.00. Following the transaction, the director directly owned 443,470 shares in the company, valued at C$11,179,878.70. This trade represents a 2.31% increase in their position. 35.66% of the stock is currently owned by corporate insiders.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.