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

Topaz Energy Corp. (TSE:TPZ)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$29.93 and last traded at C$29.83, with a volume of 112735 shares changing hands. The stock had previously closed at C$29.61.

Analysts Set New Price Targets

Several analysts have weighed in on TPZ shares. National Bank Financial set a C$33.50 price objective on Topaz Energy and gave the stock an “outperform” rating in a report on Friday, January 9th. Raymond James Financial lifted their price target on shares of Topaz Energy from C$32.00 to C$34.00 in a research report on Tuesday, December 9th. Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Finally, Jefferies Financial Group lowered their target price on shares of Topaz Energy from C$31.00 to C$30.00 in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$31.40.

Topaz Energy Stock Up 1.2%

The business’s 50-day moving average is C$27.89 and its two-hundred day moving average is C$26.62. The firm has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 80.97 and a beta of 0.27. The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89.

Topaz Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, December 15th. Topaz Energy’s dividend payout ratio (DPR) is currently 362.16%.

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.