Topaz Energy (TSE:TPZ) Releases Earnings Results

Topaz Energy (TSE:TPZ) issued its quarterly earnings results on Monday. The company reported C$0.29 EPS for the quarter, FiscalAI reports. The business had revenue of C$115.39 million for the quarter. Topaz Energy had a net margin of 45.79% and a return on equity of 10.95%.

Topaz Energy Price Performance

TSE TPZ opened at C$31.90 on Tuesday. The company’s 50 day simple moving average is C$31.57 and its 200 day simple moving average is C$30.63. The company has a debt-to-equity ratio of 35.87, a current ratio of 2.93 and a quick ratio of 7.17. The firm has a market capitalization of C$4.94 billion, a PE ratio of 36.67 and a beta of 0.35. Topaz Energy has a 12 month low of C$24.37 and a 12 month high of C$33.91.

Topaz Energy Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.34. Topaz Energy’s dividend payout ratio (DPR) is currently 156.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPZ shares. TD upped their price target on Topaz Energy from C$34.00 to C$35.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial downgraded 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 report on Monday, March 30th. ATB Cormark Capital Markets boosted 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 report on Wednesday, May 6th. Finally, Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a report on Friday, June 26th. One investment 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$33.65.

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.