Topaz Energy (TSE:TPZ) Hits New 12-Month High - Still a Buy?

Topaz Energy Corp. (TSE:TPZ - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$28.21 and last traded at C$27.96, with a volume of 8015 shares trading hands. The stock had previously closed at C$27.94.

Analysts Set New Price Targets

A number of equities analysts have commented on TPZ shares. Desjardins boosted their price objective on Topaz Energy from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. National Bankshares raised their price objective on Topaz Energy from C$32.50 to C$33.50 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Scotiabank raised their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group lifted their price target on Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target on Topaz Energy from C$29.00 to C$30.00 and gave the company an "outperform" rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Topaz Energy has a consensus rating of "Moderate Buy" and a consensus target price of C$31.13.

Topaz Energy Stock Down 0.2 %

The stock's fifty day simple moving average is C$26.51 and its two-hundred day simple moving average is C$24.94. The company has a market capitalization of C$4.04 billion, a price-to-earnings ratio of 75.35 and a beta of 0.50. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17.

Topaz Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 4.73%. Topaz Energy's dividend payout ratio (DPR) is presently 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.