Topaz Energy (TSE:TPZ) Given New C$27.00 Price Target at CIBC

Topaz Energy (TSE:TPZ) had its price target hoisted by CIBC from C$26.00 to C$27.00 in a research report report published on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group lifted their price objective on Topaz Energy from C$25.00 to C$27.00 and gave the stock a buy rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on Topaz Energy from C$28.50 to C$29.00 and gave the stock a buy rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Topaz Energy from C$26.00 to C$27.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. BMO Capital Markets lifted their price objective on Topaz Energy from C$27.00 to C$29.00 in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Topaz Energy from C$25.00 to C$27.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Topaz Energy currently has an average rating of Buy and an average target price of C$27.67.

Topaz Energy Price Performance

TSE TPZ opened at C$24.54 on Wednesday. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$24.65. The stock’s 50-day moving average is C$22.87 and its two-hundred day moving average is C$21.31. The company has a debt-to-equity ratio of 30.43, a current ratio of 2.47 and a quick ratio of 7.17. The firm has a market cap of C$3.56 billion, a P/E ratio of 76.69 and a beta of 0.50.

Topaz Energy (TSE:TPZ) last posted its earnings results on Monday, April 29th. The company reported C$0.04 earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.03). Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. The company had revenue of C$70.88 million for the quarter, compared to the consensus estimate of C$78.00 million. On average, analysts anticipate that Topaz Energy will post 0.198902 earnings per share for the current fiscal year.

Topaz Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date was Friday, June 14th. Topaz Energy’s payout ratio is 400.00%.

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.