Added to YB: 2025-10-06
Pitch date: 2025-10-04
TPZ.TO [bullish]
Topaz Energy Corp.
Author Info
Aurelion Research is a research analyst with a passion for markets, specializing in high‑conviction ideas across shipping, offshore drilling, and thematic equity research. Sign up for the newsletter.
Company Info
Topaz Energy Corp. operates as a royalty and infrastructure energy company in Canada. It operates through Royalty Production and Infrastructure segments.
Market Cap
CAD 5.1B
Pitch Price
N/A
Price Target
32.00
Dividend
4.10%
EV/EBITDA
16.74
P/E
38.10
EV/Sales
16.73
Sector
Oil, Gas and Consumable Fuels
Category
dividend
TPZ - Equity Research Report (Oct. 2025)
TPZ.TO: Hybrid royalty/infrastructure model w/ 98% EBITDA margin, 5.3% dividend yield at ~70% payout ratio, 7-8% FCF yield. 70% gas-weighted production leveraged to AECO & LNG Canada 2026 start-up. Half revenue from stable take-or-pay contracts. Net debt trending to 1.2x by 2026. Base PT C$32 (13x EV/DACF), upside C$36. Risks: AECO exposure, Tourmaline concentration (31% owner).
Read full article (4 min)