Topaz Energy (TSE:TPZ) Cut to Hold at Raymond James Financial

Raymond James Financial downgraded shares of Topaz Energy (TSE:TPZ) from a moderate buy rating to a hold rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Raymond James Financial currently has C$35.00 price objective on the stock.

Several other research firms also recently weighed in on TPZ. Desjardins raised their price objective on shares of Topaz Energy from C$31.00 to C$32.50 and gave the company a “buy” rating in a research note on Thursday, February 26th. ATB Cormark Capital Markets lifted their price objective on shares of Topaz Energy from C$31.00 to C$33.00 and gave the stock a “moderate buy” rating in a research report on Wednesday, February 25th. National Bank Financial set a C$33.50 price objective on shares of Topaz Energy and gave the company an “outperform” rating in a research note on Friday, January 9th. Jefferies Financial Group dropped their target price on Topaz Energy from C$31.00 to C$30.00 in a research report on Tuesday, January 20th. Finally, TD Securities raised their price target on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$33.28.

Topaz Energy Price Performance

Shares of TPZ opened at C$30.21 on Monday. The firm has a market cap of C$4.67 billion, a price-to-earnings ratio of 36.40 and a beta of 0.21. The stock has a 50 day moving average of C$30.20 and a 200-day moving average of C$27.83. The company has a current ratio of 11.26, a quick ratio of 7.17 and a debt-to-equity ratio of 37.54. Topaz Energy has a 52 week low of C$21.00 and a 52 week high of C$32.46.

Topaz Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, March 13th. Topaz Energy’s payout ratio is presently 162.65%.

Topaz Energy Company Profile

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.