Topaz Energy Corp. (TSE:TPZ – Get Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$26.34 and last traded at C$26.34, with a volume of 13583 shares. The stock had previously closed at C$26.09.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on TPZ. Jefferies Financial Group raised their target price on 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. National Bankshares increased their target price on Topaz Energy from C$28.50 to C$32.50 in a research note on Monday. 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. CIBC lifted their price objective on Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. Finally, Desjardins raised their target price on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Topaz Energy presently has a consensus rating of “Buy” and a consensus price target of C$28.96.
Check Out Our Latest Report 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 (EPS) for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The firm had revenue of C$78.41 million during the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. As a group, research analysts predict that Topaz Energy Corp. will post 0.1817651 earnings per share for the current year.
Topaz Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 5.04%. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s payout ratio is currently 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.
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