Topaz Energy Corp. (TSE:TPZ) Given Average Recommendation of “Buy” by Brokerages

Shares of Topaz Energy Corp. (TSE:TPZ) have been given an average rating of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$33.28.

A number of equities analysts have weighed in on TPZ shares. Royal Bank Of Canada boosted their price objective on Topaz Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. TD Securities raised their target price on Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group lifted their price target on Topaz Energy from C$33.00 to C$35.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce boosted their price target on shares of Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Topaz Energy from C$31.00 to C$30.00 in a report on Tuesday, January 20th.

Topaz Energy Trading Up 2.2%

TPZ opened at C$31.67 on Friday. The company has a debt-to-equity ratio of 37.54, a current ratio of 11.26 and a quick ratio of 7.17. The company’s 50 day simple moving average is C$30.00 and its two-hundred day simple moving average is C$27.72. The firm has a market capitalization of C$4.90 billion, a price-to-earnings ratio of 38.16 and a beta of 0.21. Topaz Energy has a 1-year low of C$21.00 and a 1-year high of C$32.46.

Topaz Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, March 13th. Topaz Energy’s payout ratio is presently 162.65%.

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.