Keyera (TSE:KEY) Reaches New 52-Week High After Analyst Upgrade

Keyera Corp. (TSE:KEY) shares hit a new 52-week high on Thursday after BMO Capital Markets raised their price target on the stock from C$40.00 to C$41.00. The company traded as high as C$40.57 and last traded at C$40.45, with a volume of 115193 shares changing hands. The stock had previously closed at C$40.03.

Several other research firms also recently issued reports on KEY. Stifel Nicolaus lifted their target price on shares of Keyera from C$39.00 to C$40.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Citigroup boosted their target price on Keyera from C$37.00 to C$40.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. CIBC raised their price objective on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. Scotiabank boosted their target price on 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, ATB Capital raised their price objective on shares of Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$40.00.

Insider Activity at Keyera

In related news, Senior Officer Eileen Marikar sold 1,888 shares of Keyera stock in a transaction that occurred on Wednesday, August 14th. The stock was 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.

Keyera Stock Performance

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$9.26 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.35 and a beta of 2.09. The stock’s 50 day moving average is C$38.83 and its 200 day moving average is C$36.47.

Keyera (TSE:KEY) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 EPS for the quarter, topping analysts’ consensus estimates of C$0.54 by C$0.08. Keyera had a return on equity of 12.02% and a net margin of 4.86%. The firm had revenue of C$1.72 billion during the quarter.

Keyera Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.52 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 5.15%. This is a boost from Keyera’s previous quarterly dividend of $0.50. Keyera’s dividend payout ratio (DPR) 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.