In a new note to investors yesterday, an analyst has provided a rating update for Topaz Energy Corp (TPZ – Research Report). The NA company, Topaz Energy Corp (TSX: TPZ) has just received a rating update from a Wall Street analyst.
Currently, the analyst consensus on Topaz Energy Corp is a Strong Buy with an average price target of C$28.72, which is a 35.5% upside from current levels. In a report issued on July 31, RBC Capital also maintained a Buy rating on the stock with a C$26.00 price target.
Based on Topaz Energy Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$78.19 million and net profit of C$7.89 million. In comparison, last year the company earned revenue of C$81.34 million and had a net profit of C$11.41 million.
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.
The company’s shares closed last Wednesday at C$21.16.
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