Topaz Energy (TSE:TPZ) Trading Down 0.6% – What’s Next?

Topaz Energy Corp. (TSE:TPZ) shares fell 0.6% during mid-day trading on Wednesday . The stock traded as low as C$31.00 and last traded at C$31.25. 351,074 shares were traded during mid-day trading, a decline of 38% from the average session volume of 567,737 shares. The stock had previously closed at C$31.45.

Wall Street Analyst Weigh In

TPZ has been the subject of several recent analyst reports. BMO Capital Markets lifted their target price on shares of Topaz Energy from C$35.50 to C$36.50 in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce upped their price objective on Topaz Energy from C$34.50 to C$35.25 in a research report on Tuesday, July 28th. Finally, Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$34.07.

Topaz Energy Trading Down 1.3%

The company’s 50 day moving average price is C$31.49 and its two-hundred day moving average price is C$31.39. The firm has a market cap of C$4.77 billion, a PE ratio of 33.11 and a beta of 0.34. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22.

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

Topaz Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 15th. Topaz Energy’s dividend payout ratio is presently 147.31%.

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.