Topaz Energy Corp. (TSE:TPZ) Raises Dividend to $0.35 Per Share

Topaz Energy Corp. (TSE:TPZ) declared a quarterly dividend on Monday, June 15th, TickerTech Dividends reports. Investors of record on Tuesday, June 30th will be paid a dividend of 0.35 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, June 15th. This is a 2.9% increase from Topaz Energy’s previous quarterly dividend of $0.34.

Topaz Energy Stock Performance

TPZ stock traded down C$0.01 during midday trading on Friday, hitting C$32.53. The stock had a trading volume of 428,665 shares, compared to its average volume of 605,716. The firm has a market capitalization of C$5.04 billion, a price-to-earnings ratio of 37.39 and a beta of 0.32. Topaz Energy has a 52 week low of C$24.37 and a 52 week high of C$33.91. The stock has a 50-day simple moving average of C$31.66 and a 200 day simple moving average of C$29.92. The company has a current ratio of 2.93, a quick ratio of 7.17 and a debt-to-equity ratio of 35.87.

Topaz Energy (TSE:TPZ) last issued its earnings results on Tuesday, May 5th. The company reported C$0.25 EPS for the quarter. The firm had revenue of C$88.66 million during the quarter. Topaz Energy had a return on equity of 10.95% and a net margin of 45.79%. As a group, equities research analysts anticipate that Topaz Energy will post 0.2019855 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. ATB Cormark Capital Markets lifted their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. TD Securities lifted their price objective on Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce lifted their price objective on Topaz Energy from C$29.00 to C$33.50 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Topaz Energy presently has an average rating of “Buy” and an average target price of C$33.65.

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.