Desjardins Increases Topaz Energy (TSE:TPZ) Price Target to C$31.00

Topaz Energy (TSE:TPZ) had its target price upped by equities researchers at Desjardins from C$30.00 to C$31.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 16.28% from the stock’s current price.

Several other brokerages have also weighed in on TPZ. CIBC raised their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday. TD Securities raised their price target on shares of Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research report on Wednesday. National Bankshares boosted their target price on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group upped their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$30.04.

Topaz Energy Stock Down 1.4 %

Shares of TPZ stock traded down C$0.38 on Wednesday, hitting C$26.66. The stock had a trading volume of 70,170 shares, compared to its average volume of 268,996. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$27.78. The firm has a market capitalization of C$3.86 billion, a price-to-earnings ratio of 72.05 and a beta of 0.50. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The stock’s 50 day moving average is C$26.15 and its 200-day moving average is C$24.41.

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

Topaz Energy Company Profile

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.