Topaz Energy (TSE:TPZ) Upgraded to “Moderate Buy” at Desjardins

Desjardins upgraded shares of Topaz Energy (TSE:TPZ) to a moderate buy rating in a research note published on Tuesday morning, Zacks.com reports.

Several other research analysts have also issued reports on TPZ. CIBC increased their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a research report on Wednesday. Jefferies Financial Group boosted their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. TD Securities boosted their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday. ATB Capital lowered shares of Topaz Energy from an “overweight” rating to a “neutral” rating and upped their target price for the stock from C$30.00 to C$31.00 in a research report on Wednesday. Finally, BMO Capital Markets boosted their price objective on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Topaz Energy currently has an average rating of “Buy” and an average target price of C$30.04.

Topaz Energy Price Performance

Shares of TPZ opened at C$26.92 on Tuesday. The business’s 50-day moving average is C$26.17 and its 200-day moving average is C$24.43. The company has a market capitalization of C$3.90 billion, a price-to-earnings ratio of 72.76 and a beta of 0.50. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, beating 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 company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. Equities research analysts expect that Topaz Energy will post 0.2019855 EPS for the current fiscal year.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Friday, September 13th. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is presently 356.76%.

About Topaz Energy

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.