Jefferies Financial Group Issues Positive Forecast for Topaz Energy (TSE:TPZ) Stock Price

Topaz Energy (TSE:TPZ) had its price target hoisted by Jefferies Financial Group from C$30.00 to C$31.00 in a research note issued to investors on Monday morning,BayStreet.CA reports.

A number of other brokerages have also weighed in on TPZ. Scotiabank lifted their price target on shares of Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Desjardins upped their target price on shares of Topaz Energy from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Securities increased their target price on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on Topaz Energy from C$30.00 to C$32.00 in a research report on Wednesday, November 6th. Finally, National Bankshares lifted their target price on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Topaz Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$31.38.

Topaz Energy Stock Performance

Shares of Topaz Energy stock opened at C$26.59 on Monday. Topaz Energy has a 12 month low of C$18.49 and a 12 month high of C$29.51. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The company has a market capitalization of C$3.85 billion, a PE ratio of 71.86 and a beta of 0.50. The stock’s fifty day simple moving average is C$27.50 and its 200 day simple moving average is C$25.79.

Topaz Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.96%. Topaz Energy’s payout ratio is 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.