Desjardins upgraded shares of Topaz Energy (TSE:TPZ – Free Report) to a moderate buy rating in a report released on Tuesday morning, Zacks.com reports.
A number of other research firms have also recently issued reports on TPZ. Scotiabank raised their target price on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday. National Bankshares lifted their price target on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities boosted their price target on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. One investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$30.04.
View Our Latest Stock Analysis on Topaz Energy
Topaz Energy Price Performance
Topaz Energy (TSE:TPZ – Get Free Report) last released its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The company had revenue of C$78.41 million for the quarter, compared to analyst estimates of C$80.00 million. As a group, sell-side analysts forecast that Topaz Energy will post 0.2019855 EPS for the current fiscal year.
Topaz Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.33 dividend. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Friday, September 13th. Topaz Energy’s dividend payout ratio is 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.
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