Topaz Energy (TSE:TPZ) Price Target Lowered to C$29.50 at Desjardins

Topaz Energy (TSE:TPZ) had its target price trimmed by Desjardins from C$32.00 to C$29.50 in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

TPZ has been the topic of several other reports. CIBC lifted their target price on Topaz Energy from C$31.00 to C$32.00 in a research report on Friday, January 17th. Scotiabank boosted their price objective on Topaz Energy from C$35.00 to C$36.00 in a research note on Friday, January 17th. Finally, Jefferies Financial Group raised their target price on shares of Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Topaz Energy has an average rating of “Moderate Buy” and a consensus price target of C$31.42.

Topaz Energy Stock Up 2.1 %

Shares of TPZ stock opened at C$24.22 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. Topaz Energy has a 12 month low of C$21.52 and a 12 month high of C$29.51. The stock has a market cap of C$3.71 billion, a P/E ratio of 56.87 and a beta of 0.50. The company has a 50 day simple moving average of C$25.41 and a two-hundred day simple moving average of C$26.40.

Topaz Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Friday, March 14th. Topaz Energy’s payout ratio is presently 309.94%.

Insiders Place Their Bets

In other Topaz Energy news, Senior Officer Cheree Stephenson purchased 2,110 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of C$23.68 per share, with a total value of C$49,964.80. Also, Director Stephen Phillip Larke sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of C$26.10, for a total value of C$2,610,000.00. Corporate insiders own 35.66% of the company’s stock.

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.