Citigroup Increases Keyera (TSE:KEY) Price Target to C$46.00

Keyera (TSE:KEY) had its price objective raised by Citigroup from C$40.00 to C$46.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on KEY. Scotiabank raised their price objective on Keyera from C$40.00 to C$42.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Jefferies Financial Group increased their target price on Keyera from C$39.00 to C$43.00 and gave the stock a buy rating in a research note on Monday, July 29th. ATB Capital raised their price objective on shares of Keyera from C$36.00 to C$39.00 in a research note on Wednesday, July 24th. National Bankshares raised their price objective on shares of Keyera from C$36.00 to C$38.00 and gave the company a sector perform rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Keyera from C$41.00 to C$44.00 in a research note on Friday, August 9th. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$40.55.

Keyera Stock Up 0.2 %

Shares of KEY opened at C$42.26 on Monday. The stock has a fifty day simple moving average of C$39.81 and a two-hundred day simple moving average of C$37.24. 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 capitalization of C$9.68 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09. Keyera has a 52-week low of C$30.08 and a 52-week high of C$42.44.

Keyera (TSE:KEY) last posted its earnings results on Thursday, August 8th. The company reported C$0.62 earnings per share for the quarter, beating the consensus estimate of C$0.54 by C$0.08. The company 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%. As a group, equities analysts forecast that Keyera will post 2.1985409 EPS for the current year.

Keyera Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. This is a boost from Keyera’s previous quarterly dividend of $0.50. Keyera’s dividend payout ratio (DPR) is presently 139.60%.

Insiders Place Their Bets

In other Keyera news, Senior Officer Eileen Marikar sold 1,888 shares of the firm’s stock in a transaction that occurred 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 owned by corporate insiders.

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.