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

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$29.34 and last traded at C$29.32, with a volume of 50891 shares trading hands. The stock had previously closed at C$28.94.

Analyst Ratings Changes

A number of brokerages recently weighed in on TPZ. National Bankshares set a C$33.50 target price on Topaz Energy and gave the company an “outperform” rating in a report on Friday, January 9th. Raymond James Financial raised their price objective on Topaz Energy from C$32.00 to C$34.00 in a report on Tuesday, December 9th. Jefferies Financial Group reduced their price objective on Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. Finally, Scotiabank upgraded Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Topaz Energy currently has a consensus rating of “Buy” and a consensus target price of C$31.40.

Topaz Energy Stock Performance

The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89. The stock has a fifty day simple moving average of C$27.71 and a two-hundred day simple moving average of C$26.27. The stock has a market cap of C$4.49 billion, a PE ratio of 78.92 and a beta of 0.16.

Topaz Energy (TSE:TPZ) last posted its quarterly earnings data on Monday, November 3rd. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$76.44 million for the quarter. Topaz Energy had a net margin of 20.54% and a return on equity of 5.15%. Equities analysts anticipate that Topaz Energy Corp. will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.34 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.36 dividend on an annualized basis and a yield of 4.7%. Topaz Energy’s payout ratio is currently 362.16%.

Insiders Place Their Bets

In other Topaz Energy news, Director Mike Rose bought 10,000 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of C$25.21 per share, for a total transaction of C$252,100.00. Following the completion of the purchase, the director directly owned 443,470 shares of the company’s stock, valued at approximately C$11,179,878.70. The trade was a 2.31% increase in their ownership of the stock. 35.66% of the stock is currently owned by insiders.

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.