Keyera (TSE:KEY) Sets New 12-Month High on Analyst Upgrade

Keyera Corp. (TSE:KEY)’s share price hit a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from C$43.00 to C$47.00. Jefferies Financial Group currently has a buy rating on the stock. Keyera traded as high as C$42.56 and last traded at C$42.52, with a volume of 23391 shares trading hands. The stock had previously closed at C$42.17.

KEY has been the topic of several other research reports. ATB Capital raised their price objective on Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of Keyera from C$41.00 to C$44.00 in a report on Friday, August 9th. National Bankshares raised their price objective on shares of Keyera from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Scotiabank increased their target price on shares of Keyera from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets upped their price objective on Keyera from C$40.00 to C$41.00 and gave the company a “hold” rating in a research note on Thursday, September 5th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Keyera currently has an average rating of “Moderate Buy” and an average target price of C$40.91.

Insider Buying and Selling at Keyera

In related news, Senior Officer Eileen Marikar sold 1,888 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$39.70, for a total value of C$74,953.79. 0.39% of the stock is owned by corporate insiders.

Keyera Price Performance

The firm has a market capitalization of C$9.86 billion, a PE ratio of 28.66, a P/E/G ratio of 1.35 and a beta of 2.09. The company has a 50-day moving average price of C$40.13 and a 200-day moving average price of C$37.46. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57.

Keyera (TSE:KEY) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.54 by C$0.08. The business had revenue of C$1.72 billion for the quarter. Keyera had a net margin of 4.86% and a return on equity of 12.02%. Sell-side analysts forecast that Keyera Corp. will post 2.1985409 EPS for the current year.

Keyera Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of ∞. This is a positive change from Keyera’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, September 13th. Keyera’s dividend payout ratio (DPR) is presently 139.60%.

About Keyera

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products, and separate the economic components primarily natural gas liquids; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.