Topaz Energy (TSE:TPZ) Hits New 1-Year High – Time to Buy?

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during trading on Thursday . The company traded as high as C$32.28 and last traded at C$32.23, with a volume of 385222 shares traded. The stock had previously closed at C$31.80.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TPZ. Jefferies Financial Group lowered their price objective on shares of Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. ATB Cormark Capital Markets increased their price target on shares of Topaz Energy from C$31.00 to C$33.00 and gave the company a “moderate buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada raised their price target on shares of Topaz Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. TD Securities upped their price objective on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Raymond James Financial increased their target price on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$33.28.

Topaz Energy Trading Up 0.4%

The business’s 50 day moving average price is C$29.57 and its 200-day moving average price is C$27.48. The company has a market cap of C$4.98 billion, a price-to-earnings ratio of 38.77 and a beta of 0.21. The company has a debt-to-equity ratio of 37.54, a quick ratio of 7.17 and a current ratio of 11.26.

Topaz Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, March 13th. Topaz Energy’s dividend payout ratio is 162.65%.

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.