Topaz Energy (TSE:TPZ) Trading Up 0.4% – Still a Buy?

Topaz Energy Corp. (TSE:TPZ)’s stock price shot up 0.4% during trading on Tuesday . The stock traded as high as C$32.37 and last traded at C$32.15. 768,189 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 587,608 shares. The stock had previously closed at C$32.02.

Analysts Set New Price Targets

A number of research firms have recently commented on TPZ. Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial cut shares of Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 price target on the stock. in a research note on Monday, March 30th. ATB Cormark Capital Markets increased their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, TD increased their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Topaz Energy presently has an average rating of “Buy” and a consensus price target of C$33.65.

Topaz Energy Trading Up 0.9%

The company has a quick ratio of 7.17, a current ratio of 2.93 and a debt-to-equity ratio of 35.87. The company’s 50-day moving average is C$31.59 and its 200-day moving average is C$30.51. The stock has a market capitalization of C$5.09 billion, a price-to-earnings ratio of 37.78 and a beta of 0.35.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$0.25 earnings per share for the quarter. The business had revenue of C$88.66 million during the quarter. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%. Research analysts anticipate that Topaz Energy Corp. will post 0.2019855 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.35 dividend. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 15th. This represents a $1.40 annualized dividend and a yield of 4.3%. Topaz Energy’s payout ratio is presently 156.32%.

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.