Topaz Energy (TSE:TPZ) Price Target Raised to C$35.00

Topaz Energy (TSE:TPZ) had its target price raised by analysts at Scotiabank from C$34.00 to C$35.00 in a research note issued on Tuesday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 28.44% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Topaz Energy from C$29.00 to C$29.50 and gave the stock a “buy” rating in a report on Tuesday, July 30th. CIBC upped their price objective on shares of Topaz Energy from C$27.00 to C$30.00 in a report on Monday, July 15th. Desjardins upped their price objective on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. TD Securities upped their price objective on shares of Topaz Energy from C$27.00 to C$28.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Topaz Energy presently has an average rating of “Buy” and a consensus price target of C$29.29.

Topaz Energy Stock Up 0.7 %

Shares of TSE TPZ traded up C$0.18 during midday trading on Tuesday, reaching C$27.25. The company’s stock had a trading volume of 73,760 shares, compared to its average volume of 269,243. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78. The stock has a market capitalization of C$3.95 billion, a price-to-earnings ratio of 73.68 and a beta of 0.50. The stock has a 50 day simple moving average of C$26.12 and a 200-day simple moving average of C$24.38.

Topaz Energy (TSE:TPZ) last issued its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.05. The business had revenue of C$78.41 million for the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. Equities research analysts predict that Topaz Energy will post 0.2019855 earnings per share for the current year.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.