Topaz Energy (TSE:TPZ) Stock Breaks Above 200-Day Moving Average – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$30.64 and traded as high as C$31.00. Topaz Energy shares last traded at C$30.66, with a volume of 517,963 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Topaz Energy from C$35.50 to C$36.50 in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce upped their target price on shares of Topaz Energy from C$34.50 to C$35.25 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Topaz Energy has a consensus rating of “Buy” and an average price target of C$34.07.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 36.22, a current ratio of 3.48 and a quick ratio of 7.17. The stock has a market cap of C$4.85 billion, a price-to-earnings ratio of 33.60 and a beta of 0.47. The stock’s 50-day moving average is C$30.39 and its 200 day moving average is C$30.66.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. The company had revenue of C$115.39 million during the quarter. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. As a group, analysts predict that Topaz Energy Corp. will post 0.20 earnings per share for the current fiscal year.

Topaz Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a $0.35 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.40 annualized dividend and a yield of 4.5%. Topaz Energy’s payout ratio is 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.