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

Topaz Energy (TSE:TPZ) had its price objective decreased by equities research analysts at Desjardins from C$32.00 to C$29.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 23.28% from the stock’s previous close.

TPZ has been the subject of several other reports. CIBC upped their price target on shares of Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th. Jefferies Financial Group increased their price objective on Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. Finally, Scotiabank increased their price objective on Topaz Energy from C$35.00 to C$36.00 in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Topaz Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$31.42.

Topaz Energy Price Performance

TPZ traded up C$0.21 during trading on Wednesday, hitting C$23.93. 411,790 shares of the stock traded hands, compared to its average volume of 383,002. Topaz Energy has a twelve month low of C$21.52 and a twelve month high of C$29.51. The company has a market cap of C$3.66 billion, a price-to-earnings ratio of 56.19 and a beta of 0.50. The company has a debt-to-equity ratio of 36.45, a current ratio of 1.89 and a quick ratio of 7.17. The business has a 50 day moving average price of C$25.41 and a 200 day moving average price of C$26.40.

Insider Transactions at Topaz Energy

In other news, Senior Officer Cheree Stephenson purchased 2,110 shares of the company’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, for a total transaction of C$49,964.80. Also, Director Stephen Phillip Larke sold 100,000 shares of Topaz Energy 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 value of C$2,610,000.00. 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.