Topaz Energy (TSE:TPZ) PT Raised to C$26.00 at CIBC

Topaz Energy (TSE:TPZ) had its target price raised by CIBC from C$24.00 to C$26.00 in a research note issued to investors on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other brokerages also recently commented on TPZ. BMO Capital Markets set a C$27.00 target price on Topaz Energy and gave the company an outperform rating in a report on Wednesday, March 13th. Desjardins dropped their price objective on shares of Topaz Energy from C$27.50 to C$26.50 and set a buy rating on the stock in a research note on Tuesday, January 23rd. ATB Capital reduced their target price on shares of Topaz Energy from C$32.00 to C$30.00 in a research report on Tuesday, January 2nd. Jefferies Financial Group set a C$23.00 price target on shares of Topaz Energy and gave the company a buy rating in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group lifted their price target on shares of Topaz Energy from C$27.50 to C$28.50 and gave the stock a buy rating in a research note on Tuesday, March 5th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of C$26.86.

Topaz Energy Stock Down 0.7 %

TPZ opened at C$22.24 on Monday. The company has a market cap of C$3.22 billion, a PE ratio of 67.82 and a beta of 0.48. The company has a debt-to-equity ratio of 31.49, a quick ratio of 7.17 and a current ratio of 8.52. Topaz Energy has a 1 year low of C$18.03 and a 1 year high of C$23.17. The firm has a 50 day moving average price of C$21.50 and a 200 day moving average price of C$20.45.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a return on equity of 3.66% and a net margin of 14.82%. The firm had revenue of C$82.78 million during the quarter, compared to the consensus estimate of C$79.00 million. Sell-side analysts expect that Topaz Energy will post 0.2818351 earnings per share for the current year.

Topaz Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.76%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, March 14th. Topaz Energy’s dividend payout ratio is 387.88%.

Insiders Place Their Bets

In other news, Director Stephen Phillip Larke sold 200,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of C$22.35, for a total value of C$4,470,000.00. 35.55% of the stock is owned by company insiders.

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.