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

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s stock price reached 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TPZ. Scotiabank boosted 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 report on Tuesday, October 22nd. TD Securities lifted their target price 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, October 23rd. ATB Capital lowered shares of Topaz Energy from an "overweight" rating to a "neutral" rating and lifted their target price for the company from C$30.00 to C$31.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Finally, Desjardins lifted 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 research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$30.79.

Topaz Energy Price Performance

The company's fifty day moving average is C$26.29 and its two-hundred day moving average is C$24.69. The firm has a market capitalization of C$4.01 billion, a price-to-earnings ratio of 73.03 and a beta of 0.50. The company has a quick ratio of 7.17, a current ratio of 2.12 and a debt-to-equity ratio of 37.52.

Topaz Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from Topaz Energy's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.77%. Topaz Energy's dividend payout ratio (DPR) is 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.

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