Topaz Energy (TSE:TPZ) Stock Price Expected to Rise, Scotiabank Analyst Says

Topaz Energy (TSE:TPZ - Free Report) had its target price boosted by Scotiabank from C$35.00 to C$36.00 in a report released on Friday morning,BayStreet.CA reports.

A number of other brokerages have also recently weighed in on TPZ. Jefferies Financial Group raised their price objective on Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. CIBC boosted their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. Desjardins increased 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 report on Wednesday, October 23rd. Raymond James set a C$34.00 price target on shares of Topaz Energy and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, TD Securities lifted their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Topaz Energy has an average rating of "Moderate Buy" and an average target price of C$31.54.

Topaz Energy Price Performance

TPZ traded up C$0.10 during trading on Friday, reaching C$27.12. The stock had a trading volume of 324,653 shares, compared to its average volume of 401,529. The business has a 50-day moving average of C$27.57 and a 200-day moving average of C$26.46. Topaz Energy has a one year low of C$18.59 and a one year high of C$29.51. The company has a debt-to-equity ratio of 37.52, a quick ratio of 7.17 and a current ratio of 2.12. The stock has a market cap of C$3.93 billion, a PE ratio of 73.30 and a beta of 0.50.

Topaz Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend was Friday, December 13th. Topaz Energy's dividend payout ratio (DPR) is currently 356.76%.

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.