Scotiabank Upgrades Topaz Energy (TSE:TPZ) to Strong-Buy

Topaz Energy (TSE:TPZ) was upgraded by research analysts at Scotiabank to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. TD Securities upped their price objective on shares of Topaz Energy from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group upped their target price on Topaz Energy from C$33.00 to C$35.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price target on Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce upped their price objective on Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Raymond James Financial cut Topaz Energy from a “moderate buy” rating to a “hold” rating and set a C$35.00 target price on the stock. in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$33.28.

Topaz Energy Trading Down 2.3%

Shares of Topaz Energy stock opened at C$30.21 on Wednesday. The firm’s 50 day moving average is C$30.20 and its 200 day moving average is C$27.83. The firm has a market capitalization of C$4.67 billion, a PE ratio of 36.40 and a beta of 0.21. The company has a current ratio of 11.26, a quick ratio of 7.17 and a debt-to-equity ratio of 37.54. Topaz Energy has a 1 year low of C$21.00 and a 1 year high of C$32.46.

Topaz Energy Company Profile

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.