Topaz Energy (TSE:TPZ) Sets New 52-Week High – Here’s What Happened

Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$32.48 and last traded at C$32.44, with a volume of 160713 shares. The stock had previously closed at C$31.77.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TPZ shares. Canadian Imperial Bank of Commerce lifted their price target on Topaz Energy from C$29.00 to C$33.50 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Jefferies Financial Group decreased their price target on Topaz Energy from C$31.00 to C$30.00 in a report on Tuesday, January 20th. ATB Cormark Capital Markets boosted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Raymond James Financial downgraded Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price for the company. in a report on Monday, March 30th. Finally, Desjardins boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Topaz Energy has a consensus rating of “Buy” and a consensus target price of C$33.65.

Topaz Energy Price Performance

The company has a current ratio of 2.93, a quick ratio of 7.17 and a debt-to-equity ratio of 35.87. The firm has a market capitalization of C$5.03 billion, a PE ratio of 37.37 and a beta of 0.21. The company has a fifty day moving average price of C$31.08 and a two-hundred day moving average price of C$28.79.

Topaz Energy (TSE:TPZ) last posted its earnings results on Tuesday, May 5th. The company reported C$0.25 earnings per share for the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%.The business had revenue of C$88.66 million during the quarter. Sell-side analysts forecast that Topaz Energy Corp. will post 0.2019855 earnings per share for the current year.

Topaz Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, March 13th. Topaz Energy’s payout ratio is presently 156.32%.

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.