Raymond James Upgrades Topaz Energy (TSE:TPZ) to “Moderate Buy”

Raymond James upgraded shares of Topaz Energy (TSE:TPZ) to a moderate buy rating in a research report released on Monday morning, Zacks.com reports. Raymond James also issued estimates for Topaz Energy’s FY2024 earnings at $0.37 EPS.

TPZ has been the topic of a number of other reports. CIBC lifted their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. Scotiabank boosted their price target on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Monday, July 15th. BMO Capital Markets boosted their target price on Topaz Energy from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, TD Securities increased their target price on shares of Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Topaz Energy has an average rating of “Moderate Buy” and an average target price of C$30.79.

Topaz Energy Stock Performance

TPZ opened at C$26.84 on Monday. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$27.78. The firm has a market cap of C$3.89 billion, a P/E ratio of 72.54 and a beta of 0.50. The business’s fifty day moving average is C$26.23 and its 200-day moving average is C$24.54.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.05. The firm had revenue of C$78.41 million for the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. Sell-side 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. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.92%. Topaz Energy’s payout ratio is presently 356.76%.

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.