Raymond James Has Positive Outlook of Keyera FY2024 Earnings

Keyera Corp. (TSE:KEY) – Investment analysts at Raymond James upped their FY2024 earnings per share estimates for shares of Keyera in a research report issued to clients and investors on Thursday, November 14th. Raymond James analyst M. Barth now forecasts that the company will post earnings of $2.19 per share for the year, up from their prior forecast of $2.04. Raymond James currently has a “Moderate Buy” rating on the stock. The consensus estimate for Keyera’s current full-year earnings is $2.22 per share. Raymond James also issued estimates for Keyera’s FY2025 earnings at $2.14 EPS and FY2026 earnings at $2.40 EPS.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Keyera from C$41.00 to C$44.00 in a report on Friday, November 15th. Jefferies Financial Group increased their target price on shares of Keyera from C$43.00 to C$47.00 and gave the company a “buy” rating in a research report on Monday, September 30th. National Bankshares lifted their price target on shares of Keyera from C$38.00 to C$39.00 in a report on Friday, November 15th. Citigroup increased their price objective on Keyera from C$46.00 to C$50.00 in a report on Monday. Finally, Royal Bank of Canada boosted their target price on Keyera from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Three equities 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$42.58.

Keyera Stock Performance

The stock’s 50 day simple moving average is C$42.89 and its two-hundred day simple moving average is C$39.45. The company has a quick ratio of 0.57, a current ratio of 1.30 and a debt-to-equity ratio of 143.51. Keyera has a fifty-two week low of C$31.16 and a fifty-two week high of C$45.67. The company has a market capitalization of C$10.34 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 1.35 and a beta of 2.09.

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 dividend of $0.52 per share. The ex-dividend date was Friday, September 13th. This represents a $2.08 annualized dividend and a yield of ∞. This is a boost from Keyera’s previous quarterly dividend of $0.50. Keyera’s 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.