Keyera (TSE:KEY) Reaches New 12-Month High Following Analyst Upgrade

Keyera Corp. (TSE:KEY)’s stock price hit a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from C$40.00 to C$46.00. Citigroup currently has a buy rating on the stock. Keyera traded as high as C$41.79 and last traded at C$41.47, with a volume of 140736 shares trading hands. The stock had previously closed at C$41.07.

KEY has been the subject of a number of other reports. Royal Bank of Canada increased their price objective on shares of Keyera from C$41.00 to C$44.00 in a report on Friday, August 9th. Scotiabank raised their target price on shares of Keyera from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. CIBC boosted their price target on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. ATB Capital raised their price objective on Keyera from C$36.00 to C$39.00 in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their target price on Keyera from C$34.00 to C$35.00 in a research report on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$40.55.

Insider Activity at Keyera

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

Keyera Price Performance

The stock has a 50 day moving average of C$39.55 and a 200-day moving average of C$37.06. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 143.51. The stock has a market capitalization of C$9.60 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09.

Keyera (TSE:KEY) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.54 by C$0.08. Keyera had a net margin of 4.86% and a return on equity of 12.02%. The company had revenue of C$1.72 billion during the quarter. On average, equities research analysts anticipate that Keyera Corp. will post 2.1977492 earnings per share for the current fiscal year.

Keyera Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.52 per share. This is an increase from Keyera’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. Keyera’s dividend payout ratio is presently 139.60%.

Keyera Company Profile

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.