Topaz Energy (TSE:TPZ) Hits New 1-Year High at $26.95

Topaz Energy Corp. (TSE:TPZ - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as C$26.95 and last traded at C$26.90, with a volume of 236667 shares traded. The stock had previously closed at C$26.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company an "outperform" rating in a report on Wednesday, July 3rd. Jefferies Financial Group lifted their price target on Topaz Energy from C$27.00 to C$28.00 and gave the company a "buy" rating in a report on Monday, July 15th. CIBC upped their price objective on Topaz Energy from C$27.00 to C$30.00 in a research note on Monday, July 15th. Canaccord Genuity Group lifted their target price on Topaz Energy from C$29.00 to C$29.50 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Finally, BMO Capital Markets boosted their target price on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a report on Tuesday, July 30th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$29.21.

Topaz Energy Stock Up 2.7 %

The company's 50-day moving average is C$25.60 and its 200 day moving average is C$23.92. The stock has a market capitalization of C$3.91 billion, a PE ratio of 71.49 and a beta of 0.51. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported C$0.12 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.05. The business had revenue of C$78.41 million during the quarter, compared to the consensus estimate of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. As a group, analysts anticipate that Topaz Energy Corp. will post 0.184685 EPS for the current year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from Topaz Energy's previous quarterly dividend of $0.32. Topaz Energy's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.