Topaz Energy (TSE:TPZ) Trading Up 0.9% – Time to Buy?

Topaz Energy Corp. (TSE:TPZ) shares traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as C$31.36 and last traded at C$31.31. Approximately 350,997 shares were traded during trading, a decline of 38% from the average daily volume of 568,097 shares. The stock had previously closed at C$31.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TPZ shares. Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. BMO Capital Markets raised their price target on shares of Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday, July 28th. TD boosted their price target on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. ATB Cormark Capital Markets upped their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Topaz Energy from C$34.50 to C$35.25 in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$34.07.

Topaz Energy Trading Up 1.4%

The stock has a market cap of C$4.92 billion, a PE ratio of 34.17 and a beta of 0.34. The company’s 50-day moving average price is C$31.03 and its 200 day moving average price is C$31.03. The company has a debt-to-equity ratio of 36.22, a quick ratio of 7.17 and a current ratio of 3.48.

Topaz Energy (TSE:TPZ) last issued its quarterly earnings data on Monday, July 27th. The company reported C$0.29 earnings per share for the quarter. The company had revenue of C$115.39 million during the quarter. Topaz Energy had a return on equity of 12.16% and a net margin of 48.58%. On average, sell-side analysts forecast that Topaz Energy Corp. will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.35 dividend. This is a boost from Topaz Energy’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.40 annualized dividend and a dividend yield of 4.4%. Topaz Energy’s dividend payout ratio is currently 147.31%.

About Topaz Energy

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.