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

Keyera Corp. (TSE:KEY) shares reached a new 52-week high during trading 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. The stock had previously closed at C$40.03.

Several other research analysts have also recently issued reports on KEY. Atb Cap Markets raised shares of Keyera from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus lifted their price target on Keyera from C$39.00 to C$40.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Royal Bank of Canada increased their price objective on Keyera from C$41.00 to C$44.00 in a research report on Friday, August 9th. Citigroup boosted their target price on shares of Keyera from C$37.00 to C$40.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, CIBC upped their price target on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$40.00.

Insider Activity at Keyera

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

Keyera Trading Up 0.4 %

The firm has a market cap of C$9.30 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.35 and a beta of 2.09. 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 50-day moving average price of C$38.93 and a 200 day moving average price of C$36.55.

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. Keyera had a return on equity of 12.02% and a net margin of 4.86%. The company had revenue of C$1.72 billion for the quarter.

Keyera Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a dividend of $0.52 per share. This is a boost from Keyera’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Friday, September 13th. Keyera’s dividend payout ratio 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.