Topaz Energy (TSE:TPZ) Cut to Neutral at ATB Capital

ATB Capital cut shares of Topaz Energy (TSE:TPZ) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have C$31.00 target price on the stock, up from their prior target price of C$30.00.

A number of other equities analysts have also commented on TPZ. Jefferies Financial Group increased their price target on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Monday, July 15th. TD Securities increased their price target on shares of Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a research report on Wednesday. National Bankshares upped their target price on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Finally, BMO Capital Markets upped their price target 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. One equities 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, Topaz Energy has an average rating of “Buy” and an average price target of C$30.04.

Topaz Energy Trading Up 0.4 %

Shares of TPZ stock opened at C$27.31 on Wednesday. The stock has a 50 day simple moving average of C$26.22 and a two-hundred day simple moving average of C$24.50. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78. The company has a market cap of C$3.96 billion, a P/E ratio of 73.81 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 (TSE:TPZ) last released its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The business had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. Research analysts forecast that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.83%. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.32. Topaz Energy’s dividend 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.