Topaz Energy (TSE:TPZ) Hits New 12-Month High – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high on Thursday . The company traded as high as C$32.28 and last traded at C$32.23, with a volume of 385222 shares changing hands. The stock had previously closed at C$31.80.

Wall Street Analyst Weigh In

TPZ has been the subject of several recent research reports. Desjardins lifted their price objective on Topaz Energy from C$31.00 to C$32.50 and gave the company a “buy” rating in a report on Thursday, February 26th. TD Securities raised their target price on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their price target on shares of Topaz Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce increased their price objective on shares of Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Scotiabank raised shares of Topaz Energy to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$33.28.

Topaz Energy Stock Performance

The firm has a market cap of C$4.95 billion, a price-to-earnings ratio of 38.58 and a beta of 0.21. The company has a debt-to-equity ratio of 37.54, a current ratio of 11.26 and a quick ratio of 7.17. The firm has a fifty day simple moving average of C$29.36 and a two-hundred day simple moving average of C$27.40.

Topaz Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be paid a $0.34 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.36 dividend on an annualized basis and a yield of 4.2%. Topaz Energy’s dividend payout ratio (DPR) is 162.65%.

About Topaz Energy

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.