Keyera (TSE:KEY) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Keyera Corp. (TSE:KEY)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$38.28 and traded as high as C$44.27. Keyera shares last traded at C$43.97, with a volume of 468,341 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of Keyera from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada boosted their target price on shares of Keyera from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. CIBC boosted their target price on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. Jefferies Financial Group boosted their target price on shares of Keyera from C$43.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Scotiabank boosted 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$41.50.

Keyera Price Performance

The company’s fifty day moving average price is C$41.40 and its two-hundred day moving average price is C$38.28. The company has a quick ratio of 0.57, a current ratio of 1.30 and a debt-to-equity ratio of 143.51. The company has a market cap of C$10.08 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.35 and a beta of 2.09.

Keyera (TSE:KEY) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Keyera Corp. will post 2.2166667 EPS for the current fiscal year.

Keyera Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were 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 of this dividend was Friday, September 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. Keyera’s dividend payout ratio is currently 139.60%.

Insider Transactions at Keyera

In related news, Senior Officer Eileen Marikar sold 1,888 shares of the firm’s stock in a transaction on 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 insiders.

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.