Topaz Energy (TSE:TPZ) Downgraded by ATB Capital

ATB Capital lowered shares of Topaz Energy (TSE:TPZ) from an overweight rating to a neutral rating in a report published on Wednesday, BayStreet.CA reports. ATB Capital currently has C$31.00 price target on the stock, up from their prior price target of C$30.00.

TPZ has been the topic of a number of other reports. TD Securities increased their price target 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. Jefferies Financial Group increased their target price 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. Royal Bank of Canada lifted their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. CIBC upped their price target on Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$30.04.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$27.31 on Wednesday. The stock has a market cap of C$3.96 billion, a PE ratio of 73.81 and a beta of 0.50. Topaz Energy has a 52-week low of C$18.03 and a 52-week high of C$27.78. The business has a 50-day simple moving average of C$26.22 and a 200-day simple moving average of C$24.48. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52.

Topaz Energy (TSE:TPZ) last announced its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.05. The company had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. On average, equities analysts expect that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.83%. 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. Topaz Energy’s dividend payout ratio (DPR) 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.