Topaz Energy Corp. (TSE:TPZ) Increases Dividend to $0.33 Per Share

Topaz Energy Corp. (TSE:TPZ) declared a quarterly dividend on Friday, September 13th, Zacks reports. Investors of record on Friday, September 27th will be given a dividend of 0.33 per share on Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Friday, September 13th. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32.

Topaz Energy Price Performance

TSE:TPZ opened at C$25.34 on Thursday. Topaz Energy has a 52 week low of C$18.03 and a 52 week high of C$26.93. The firm has a market cap of C$3.67 billion, a price-to-earnings ratio of 68.49 and a beta of 0.51. The firm’s 50-day simple moving average is C$25.37 and its 200 day simple moving average is C$23.42. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, July 29th. The company reported C$0.12 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 predict that Topaz Energy will post 0.1874589 earnings per share for the current year.

Analysts Set New Price Targets

TPZ has been the topic of several recent analyst reports. National Bankshares raised their target price on shares of Topaz Energy from C$28.50 to C$32.50 in a report on Monday, August 19th. Canaccord Genuity Group raised their price target on shares of Topaz Energy from C$29.00 to C$29.50 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group raised their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Monday, July 15th. BMO Capital Markets raised their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Desjardins raised their price target on shares of Topaz Energy from C$26.50 to C$28.50 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$28.96.

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.