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

Shares of Keyera Corp. (TSE:KEY) 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.

Other research analysts have also issued reports about the company. CIBC boosted their price target on Keyera from C$37.00 to C$39.00 in a research report on Monday, July 15th. BMO Capital Markets increased their price target on shares of Keyera from C$40.00 to C$41.00 and gave the company a “hold” rating in a research report on Thursday, September 5th. ATB Capital lifted their price objective on shares of Keyera from C$36.00 to C$39.00 in a research report on Wednesday, July 24th. Scotiabank increased 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 report on Monday, July 15th. Finally, National Bankshares raised their target price 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$40.55.

Insiders Place Their Bets

In other news, Senior Officer Eileen Marikar sold 1,888 shares of the stock in a transaction dated 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 currently owned by insiders.

Keyera Trading Up 2.0 %

The stock has a market cap of C$9.60 billion, a PE ratio of 28.01, a PEG ratio of 1.35 and a beta of 2.09. The company’s fifty day moving average is C$39.55 and its 200-day moving average is C$37.06. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57.

Keyera (TSE:KEY) last released 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 return on equity of 12.02% and a net margin of 4.86%. The business had revenue of C$1.72 billion during the quarter. On average, analysts predict that Keyera Corp. will post 2.1977492 earnings per share for the current fiscal 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date is Friday, September 13th. This is a positive change from Keyera’s previous quarterly dividend of $0.50. Keyera’s dividend payout ratio is currently 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.