Keyera (TSE:KEY) Sets New 12-Month High on Analyst Upgrade

Shares of Keyera Corp. (TSE:KEY) reached a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from C$43.00 to C$47.00. Jefferies Financial Group currently has a buy rating on the stock. Keyera traded as high as C$42.56 and last traded at C$42.52, with a volume of 23391 shares traded. The stock had previously closed at C$42.17.

Several other equities analysts have also recently weighed in on KEY. ATB Capital lifted their target price on Keyera from C$36.00 to C$39.00 in a research note on Wednesday, July 24th. Citigroup upped their target price on Keyera from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. National Bankshares increased their price objective on Keyera from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their price target on Keyera from C$40.00 to C$41.00 and gave the company a “hold” rating in a research note on Thursday, September 5th. Finally, CIBC lifted their price objective on Keyera from C$37.00 to C$39.00 in a report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$40.91.

Insider Activity at Keyera

In other Keyera news, Senior Officer Eileen Marikar sold 1,888 shares of the 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 currently owned by insiders.

Keyera Price Performance

The company has a debt-to-equity ratio of 143.51, a quick ratio of 0.57 and a current ratio of 1.30. The stock has a market capitalization of C$9.71 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.35 and a beta of 2.09. The company has a fifty day simple moving average of C$40.05 and a 200 day simple moving average of C$37.40.

Keyera (TSE:KEY) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.54 by C$0.08. The business had revenue of C$1.72 billion during the quarter. Keyera had a net margin of 4.86% and a return on equity of 12.02%. Equities research analysts forecast that Keyera Corp. will post 2.1985409 EPS for the current fiscal year.

Keyera Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a $0.52 dividend. This is a boost from Keyera’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Friday, September 13th. Keyera’s payout ratio is currently 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.