Desjardins Increases Topaz Energy (TSE:TPZ) Price Target to C$31.00

Topaz Energy (TSE:TPZGet Free Report) had its price objective hoisted by equities researchers at Desjardins from C$30.00 to C$31.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 13.93% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their price target on Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday. Scotiabank lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday. BMO Capital Markets upped their price target on shares of Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. ATB Capital cut shares of Topaz Energy from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from C$30.00 to C$31.00 in a research note on Wednesday. Finally, CIBC boosted their price objective on shares of Topaz Energy from C$30.00 to C$31.00 in a report on Wednesday. One investment 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’s stock. According to MarketBeat, Topaz Energy currently has an average rating of “Buy” and an average price target of C$30.04.

Check Out Our Latest Research Report on TPZ

Topaz Energy Price Performance

Shares of TPZ opened at C$27.21 on Wednesday. The company’s 50-day moving average is C$26.19 and its 200-day moving average is C$24.45. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. The firm has a market capitalization of C$3.94 billion, a PE ratio of 73.54 and a beta of 0.50. Topaz Energy has a fifty-two week low of C$18.03 and a fifty-two week high of C$27.78.

Topaz Energy (TSE:TPZGet Free Report) last released its quarterly earnings results 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. The firm had revenue of C$78.41 million for the quarter, compared to analysts’ expectations of C$80.00 million. Topaz Energy had a net margin of 16.70% and a return on equity of 4.39%. Equities analysts forecast that Topaz Energy will post 0.2019855 EPS for the current year.

Topaz Energy Company Profile

(Get Free Report)

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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Analyst Recommendations for Topaz Energy (TSE:TPZ)

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