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

Shares of Topaz Energy Corp. (TSE:TPZGet Rating) have been assigned a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$26.54.

Several research analysts recently commented on TPZ shares. Cormark lifted their price target on Topaz Energy from C$26.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. TD Securities lifted their price target on Topaz Energy from C$26.00 to C$27.00 and gave the stock a “buy” rating in a research report on Wednesday, May 4th. Royal Bank of Canada lifted their price target on Topaz Energy from C$27.50 to C$28.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 4th. Scotiabank lifted their price target on Topaz Energy from C$30.00 to C$31.00 in a research report on Thursday, April 7th. Finally, BMO Capital Markets lifted their price target on Topaz Energy from C$27.00 to C$30.00 in a research report on Wednesday, May 4th.

In related news, Director Mike Rose purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average price of C$23.31 per share, with a total value of C$233,128.00. Following the completion of the purchase, the director now owns 433,470 shares of the company’s stock, valued at approximately C$10,105,399.42.

Shares of TSE:TPZ opened at C$20.33 on Thursday. The company has a debt-to-equity ratio of 18.67, a quick ratio of 3.02 and a current ratio of 3.07. The firm has a fifty day moving average price of C$22.91 and a 200 day moving average price of C$20.27. Topaz Energy has a fifty-two week low of C$14.90 and a fifty-two week high of C$24.80. The firm has a market cap of C$2.84 billion and a price-to-earnings ratio of 81.00.

Topaz Energy (TSE:TPZGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported C$0.08 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). The company had revenue of C$81.34 million for the quarter, compared to analysts’ expectations of C$81.50 million. As a group, research analysts predict that Topaz Energy will post 0.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 30th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Tuesday, June 14th. Topaz Energy’s payout ratio is currently 362.55%.

Topaz Energy Company Profile (Get Rating)

Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.

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Analyst Recommendations for Topaz Energy (TSE:TPZ)

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