Topaz Energy (TSE:TPZ) Sets New 1-Year High – Should You Buy?

Shares of Topaz Energy Corp. (TSE:TPZ) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$27.79 and last traded at C$27.69, with a volume of 83834 shares traded. The stock had previously closed at C$27.02.

Analyst Ratings Changes

Several brokerages have recently issued reports on TPZ. Scotiabank increased their price objective on shares of Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. National Bankshares increased their price objective on shares of Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Raymond James set a C$34.00 target price on shares of Topaz Energy and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group raised their target price on shares of Topaz Energy from C$29.50 to C$31.00 in a research report on Wednesday, October 23rd. Finally, Desjardins raised their target price on shares of Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Topaz Energy has an average rating of “Moderate Buy” and a consensus target price of C$30.79.

Topaz Energy Trading Up 2.3 %

The business’s 50-day moving average price is C$26.29 and its 200 day moving average price is C$24.69. The company has a market cap of C$4.01 billion, a P/E ratio of 73.03 and a beta of 0.50. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, September 13th. This is a boost from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend payout ratio (DPR) 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.