Topaz Energy Corp. (TSE:TPZ) Increases Dividend to $0.33 Per Share

Topaz Energy Corp. (TSE:TPZ) declared a quarterly dividend on Monday, July 29th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.33 per share on Friday, September 27th. This represents a $1.32 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, September 13th. This is an increase from Topaz Energy’s previous quarterly dividend of $0.32.

Topaz Energy Stock Performance

Topaz Energy stock opened at C$25.76 on Wednesday. The firm’s fifty day moving average price is C$23.72 and its 200-day moving average price is C$22.07. The company has a debt-to-equity ratio of 30.43, a quick ratio of 7.17 and a current ratio of 2.47. The stock has a market cap of C$3.73 billion, a P/E ratio of 80.50 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$26.10.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, April 29th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). The firm had revenue of C$70.88 million during the quarter, compared to analysts’ expectations of C$78.00 million. Topaz Energy had a net margin of 14.29% and a return on equity of 3.62%. On average, equities research analysts expect that Topaz Energy will post 0.198902 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted 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. Stifel Nicolaus increased their price objective on shares of Topaz Energy from C$25.00 to C$27.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Scotiabank increased their price objective on shares of Topaz Energy from C$33.00 to C$34.00 in a research report on Friday, July 12th. National Bankshares increased their price objective on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada increased 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 research report on Wednesday, July 3rd. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$28.63.

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.