Topaz Energy (TSE:TPZ) Lifted to "Moderate Buy" at Desjardins

Desjardins upgraded shares of Topaz Energy (TSE:TPZ - Free Report) to a moderate buy rating in a research note released on Tuesday, Zacks.com reports.

Several other equities research analysts have also weighed in on TPZ. Canaccord Genuity Group raised their price objective on Topaz Energy from C$29.50 to C$31.00 in a research note on Wednesday. ATB Capital downgraded shares of Topaz Energy from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from C$30.00 to C$31.00 in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Topaz Energy from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 30th. CIBC increased their target price on Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday. Finally, 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. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Topaz Energy currently has an average rating of "Buy" and a consensus target price of C$30.04.

Topaz Energy Price Performance

TPZ stock traded up C$0.29 during trading hours on Tuesday, hitting C$27.21. 143,555 shares of the stock traded hands, compared to its average volume of 269,043. 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 stock has a 50-day simple moving average of C$26.19 and a 200 day simple moving average of C$24.45. Topaz Energy has a one year low of C$18.03 and a one year high of C$27.78. The company has a market cap of C$3.94 billion, a P/E ratio of 73.54 and a beta of 0.50.

Topaz Energy (TSE:TPZ - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported C$0.12 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.05. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. The company had revenue of C$78.41 million during the quarter, compared to analyst estimates of C$80.00 million. Equities analysts forecast that Topaz Energy will post 0.2019855 earnings per share for the current year.

Topaz Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.85%. The ex-dividend date was Friday, September 13th. This is a positive change from Topaz Energy's previous quarterly dividend of $0.32. 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.