Topaz Energy Corp. (TSE:TPZ – Get Rating) Director Mike Rose acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 28th. The shares were acquired at an average price of C$21.00 per share, with a total value of C$209,984.00. Following the acquisition, the director now owns 443,470 shares in the company, valued at C$9,312,160.45.
Topaz Energy Stock Down 2.7 %
Shares of TPZ traded down C$0.59 during trading hours on Wednesday, hitting C$21.04. The company had a trading volume of 123,790 shares, compared to its average volume of 302,644. The company has a market capitalization of C$3.03 billion and a PE ratio of 31.35. The company has a current ratio of 8.06, a quick ratio of 7.17 and a debt-to-equity ratio of 34.84. Topaz Energy Corp. has a one year low of C$16.90 and a one year high of C$24.80. The company’s fifty day moving average price is C$22.63 and its two-hundred day moving average price is C$21.43.
Topaz Energy (TSE:TPZ – Get Rating) last announced its earnings results on Tuesday, November 1st. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$81.68 million for the quarter. As a group, equities analysts forecast that Topaz Energy Corp. will post 0.86 earnings per share for the current fiscal year.
Topaz Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 30th will be given a dividend of $0.30 per share. This is a positive change from Topaz Energy’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 5.70%. The ex-dividend date is Wednesday, December 14th. Topaz Energy’s dividend payout ratio is currently 150.72%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on TPZ. BMO Capital Markets lifted their target price on Topaz Energy from C$30.00 to C$32.00 in a research report on Wednesday, November 2nd. Scotiabank lifted their target price on Topaz Energy from C$32.00 to C$33.00 in a research report on Monday, September 19th. Royal Bank of Canada lifted their target price on Topaz Energy from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. ATB Capital lifted their target price on Topaz Energy from C$30.00 to C$32.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 15th. Finally, Raymond James lifted their target price on Topaz Energy from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 28th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$30.57.
About Topaz Energy
Topaz Energy Corp. operates as a royalty and energy infrastructure company. It operates in Royalty Production and Infrastructure segments. The company holds gross overriding royalty interests on approximately 5.3 million gross acres of developed and undeveloped lands. It is also involved in the natural gas processing and water management infrastructure activities.