Keyera (TSE:KEY) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Keyera Corp. (TSE:KEY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$38.28 and traded as high as C$44.27. Keyera shares last traded at C$43.97, with a volume of 468,341 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their target price 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. ATB Capital lifted their price objective on shares of Keyera from C$36.00 to C$39.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price objective on shares of Keyera from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Scotiabank lifted 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. Finally, National Bankshares lifted 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 equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$41.50.

Keyera Stock Down 0.4 %

The firm’s 50-day moving average price is C$41.40 and its 200 day moving average price is C$38.28. The company has a market capitalization of C$10.08 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.35 and a beta of 2.09. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 143.51.

Keyera (TSE:KEY) last announced 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 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%. On average, sell-side analysts forecast that Keyera Corp. will post 2.2166667 EPS for the current fiscal year.

Keyera Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend 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 139.60%.

Insider Activity at Keyera

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