TSE:TPZ

Topaz Energy (TPZ.TO)

32.62
+0.40 (1.24%)
as of Jun 10, 2026, 7:00:11 pm Market Open.
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Investor Insights
star iconJun 10, 2026, 12:00 am

This summary was created by AI, based on 4 opinions in the last 12 months.

Topaz Energy (TPZ-T) is recognized as a noteworthy player in the Calgary-based energy infrastructure segment, combining royalty assets with gas infrastructure. The management team is well-regarded for their effective capital allocation and strong operational tactics, and the company is currently benefiting from a favorable environment for infrastructure spending in Canada. With a reliable yield of around 4.35% to 5%, Topaz is viewed as a lower-risk investment in the energy sector compared to traditional exploration and production firms, offering a healthy total shareholder return of approximately 13-14% this year. Analysts appreciate the company’s hybrid model, with about 75% of its revenue stemming from royalties, which is expected to stabilize income amid fluctuating gas prices. The firm is considered a top choice for investors seeking both growth and income while maintaining a clean balance sheet and lower volatility.

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Consensus
Positive
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Valuation
Fair Value
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BUY
Believes dividend is safe. Quality company with good management team. Lots of positive news (strong finances). Would continue to own shares. Outlook for energy is strong.
BUY
Well managed company. Recent acquisition of Clearwater royalty a plus. Preference is for Freehold (higher yield) and USA exposure. Second pick would be Topaz after Freehold.
PAST TOP PICK
(A Top Pick Oct 18/21, Up 17%) It is an energy infrastructure and energy royalty company and therefore a lower risk play. It did a good acquisition and raised its dividend today. The stock can grow 10 to 15% per year if commodity prices remain strong so he continues to buy.
WEAK BUY
Royalty structure. Good exposure to natural gas production in western Canada. Benefits from phenomenal TOU management. Just buy TOU instead for long-term growth for the next couple of years, unless you want the dividend that TPZ provides. Both should do well. He owns CNQ and WCP instead.
PAST TOP PICK
(A Top Pick Jul 06/21, Up 16%) Unique hybrid of royalties and infrastructure. Good exposure to some of the best plays in Canada. Wants to increase infrastructure for balance. Core holding. Yield is just over 5%, sees continuing growth in the dividend.
BUY
Spun out of Tourmaline, a top nat gas company. They're consolidating a big land mass in western Canada with some of the best nat gas fields in the world. Topaz is the vehicle that allows TOU to offload production into a cash-flow vehicle to free capital and drill more wells. The energy patch is undervalued. Nat gas has very strong pricing now. This looks good for the next 6-12 months.
TOP PICK
Infrastructure spun out from Tourmaline, a favourite oil company. They also derive royalties from Tourmaline's lands. It's a hybrid royalty-infrastructure company which removes a lot of the risk of an energy company. It yields 4.5% and they raise it yearly. M&A are coming, says management, perhaps infrastructure or royalties assets. He expects 10% growth + the divvy. (Analysts’ price target is $28.86)
TOP PICK
It is prudent to have an oil and gas pick with commodity prices where they are currently. He is constructive on this sector for the next 12 months. It is a royalty company. Their partners are strong names. (Analysts’ price target is $21.75)
PARTIAL BUY

Tourmaline still owns some TPZ which he expects for them to continue to divest. 5% dividend. Good steady performer. If you want more torque, you might want to look elsewhere.

TOP PICK

It's a unique royalty infrastructure company. It's heavily tied to some of the most aggressive top-tier plays through Tourmaline or Tamarack among others. A top play for steady growth and income in the energy space (Analysts’ price target is $19.71)

BUY

A royalty play, and a spinoff of TOU, which it still has a stake in. Look at TPZ if you want a more defensive exposure to energy for growth, dividends, and exposure to the commodity price.

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