Topaz Energy (TSE:TPZ) Hits New 52-Week High – What’s Next?

Topaz Energy Corp. (TSE:TPZ) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$28.21 and last traded at C$27.96, with a volume of 8015 shares changing hands. The stock had previously closed at C$27.94.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. ATB Capital lowered shares of Topaz Energy from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price 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. Desjardins upped their price objective on shares of Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 6th. Finally, Raymond James set a C$34.00 price target on Topaz Energy and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$31.13.

Topaz Energy Stock Up 1.0 %

The company’s 50 day moving average price is C$26.61 and its two-hundred day moving average price is C$25.00. 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 firm has a market cap of C$4.08 billion, a PE ratio of 76.08 and a beta of 0.50.

Topaz Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, December 13th. Topaz Energy’s payout ratio is currently 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.