Keyera (TSE:KEY) Raised to “Moderate Buy” at Raymond James

Raymond James upgraded shares of Keyera (TSE:KEY) to a moderate buy rating in a research report report published on Thursday morning, Zacks.com reports.

Several other brokerages also recently issued reports on KEY. Scotiabank raised their price objective on shares of Keyera from C$40.00 to C$42.00 and gave the stock an outperform rating in a research note on Monday, July 15th. 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. Citigroup raised their price objective on shares of Keyera from C$40.00 to C$46.00 and gave the stock a buy rating in a research note on Monday, September 23rd. BMO Capital Markets raised their price objective on shares of Keyera from C$40.00 to C$41.00 and gave the stock a hold rating in a research note on Thursday, September 5th. Finally, National Bankshares raised their price objective on shares of Keyera from C$36.00 to C$38.00 and gave the stock a sector perform rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Keyera has a consensus rating of Moderate Buy and a consensus target price of C$41.50.

Keyera Stock Performance

KEY stock opened at C$43.94 on Thursday. 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 cap of C$10.07 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.35 and a beta of 2.09. The firm has a 50 day simple moving average of C$40.83 and a 200 day simple moving average of C$37.96. Keyera has a 52 week low of C$31.16 and a 52 week high of C$44.56.

Keyera (TSE:KEY) last issued its quarterly earnings data 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 net margin of 4.86% and a return on equity of 12.02%. The firm had revenue of C$1.72 billion for the quarter. Research analysts anticipate that Keyera will post 2.2166667 earnings per share for the current fiscal year.

Keyera Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.52 dividend. The ex-dividend date was Friday, September 13th. This is a positive change from Keyera’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. Keyera’s payout ratio is currently 139.60%.

Insiders Place Their Bets

In other Keyera news, Senior Officer Eileen Marikar sold 1,888 shares of the company’s 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 transaction of C$74,953.79. Insiders own 0.39% of the company’s stock.

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.