Desjardins Lowers Topaz Energy (TSE:TPZ) Price Target to C$29.50

Topaz Energy (TSE:TPZ) had its price target reduced by Desjardins from C$32.00 to C$29.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on TPZ. Jefferies Financial Group boosted their target price on Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. CIBC boosted their target price on Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th. Finally, Scotiabank boosted their target price on Topaz Energy from C$35.00 to C$36.00 in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$31.42.

Topaz Energy Stock Performance

Shares of TPZ stock opened at C$24.26 on Wednesday. The business has a 50 day moving average of C$25.19 and a two-hundred day moving average of C$26.36. The company has a market cap of C$3.71 billion, a P/E ratio of 56.96 and a beta of 0.50. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. Topaz Energy has a 52 week low of C$21.52 and a 52 week high of C$29.51.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, March 14th. Topaz Energy’s dividend payout ratio is presently 309.94%.

Insiders Place Their Bets

In related news, Director Stephen Phillip Larke sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. Also, Senior Officer Cheree Stephenson acquired 2,110 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of C$23.68 per share, with a total value of C$49,964.80. Insiders own 35.66% of the company’s stock.

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.