Topaz Energy (TSE:TPZ) Hits New 12-Month High - Here's Why

Topaz Energy Corp. (TSE:TPZ - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as C$27.24 and last traded at C$27.19, with a volume of 16623 shares traded. The stock had previously closed at C$26.97.

Analyst Ratings Changes

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

Topaz Energy Trading Up 1.7 %

The business's 50-day simple moving average is C$25.78 and its 200-day simple moving average is C$24.10. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The company has a market cap of C$3.97 billion, a PE ratio of 74.05 and a beta of 0.51.

Topaz Energy (TSE:TPZ - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The company reported C$0.12 earnings per share (EPS) for the quarter, beating 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 analyst estimates of C$80.00 million. Topaz Energy had a return on equity of 4.39% and a net margin of 16.70%. As a group, analysts expect that Topaz Energy Corp. will post 0.184685 EPS for the current fiscal 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. 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 4.81%. The ex-dividend date was Friday, September 13th. 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.