Topaz Energy Corp. (TSE:TPZ) Receives Consensus Recommendation of “Buy” from Brokerages

Topaz Energy Corp. (TSE:TPZ) has earned an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$34.07.

A number of research analysts have recently issued reports on the company. Scotiabank raised Topaz Energy to a “strong-buy” rating in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce raised their target price on Topaz Energy from C$34.50 to C$35.25 in a research note on Tuesday, July 28th. Finally, BMO Capital Markets lifted their target price on Topaz Energy from C$35.50 to C$36.50 in a report on Tuesday, July 28th.

Topaz Energy Trading Down 1.3%

TPZ opened at C$30.79 on Friday. Topaz Energy has a twelve month low of C$24.37 and a twelve month high of C$33.91. The company has a quick ratio of 7.17, a current ratio of 3.48 and a debt-to-equity ratio of 36.22. The company has a fifty day moving average of C$31.50 and a 200-day moving average of C$31.38. The stock has a market cap of C$4.77 billion, a PE ratio of 33.11 and a beta of 0.34.

Topaz Energy (TSE:TPZ) last released its earnings results on Monday, July 27th. The company reported C$0.29 earnings per share (EPS) for the quarter. The business had revenue of C$115.39 million for the quarter. Topaz Energy had a net margin of 48.58% and a return on equity of 12.16%. On average, sell-side analysts predict that Topaz Energy 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. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis 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.