Topaz Energy (TSE:TPZ) Hits New 52-Week High After Dividend Announcement

Topaz Energy Corp. (TSE:TPZ)’s share price hit a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as C$27.79 and last traded at C$27.69, with a volume of 83834 shares. The stock had previously closed at C$27.02.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, December 13th. Topaz Energy’s dividend payout ratio is currently 356.76%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. National Bankshares lifted their price target on shares of Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank lifted their target price on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Raymond James set a C$34.00 price target on Topaz Energy and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Canaccord Genuity Group boosted their price objective on shares of Topaz Energy from C$29.50 to C$31.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their target price on shares of Topaz Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.13.

Topaz Energy Price Performance

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 stock’s fifty day moving average price is C$26.35 and its two-hundred day moving average price is C$24.75. The firm has a market capitalization of C$4.08 billion, a price-to-earnings ratio of 75.51 and a beta of 0.50.

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.