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

Keyera Corp. (TSE:KEY)’s stock price hit a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$38.00 to C$40.00. The company traded as high as C$39.55 and last traded at C$39.50, with a volume of 301096 shares. The stock had previously closed at C$39.12.

Other research analysts also recently issued research reports about the company. TD Securities lifted their price objective on Keyera from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus increased their price objective on Keyera from C$39.00 to C$40.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. ATB Capital raised their target price on shares of Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Keyera from C$34.00 to C$35.00 in a report on Friday, May 31st. Finally, National Bankshares upped their price target on Keyera from C$34.00 to C$35.00 in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Keyera has an average rating of “Moderate Buy” and a consensus target price of C$39.64.

Keyera Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.57 and a debt-to-equity ratio of 148.21. The stock has a 50 day simple moving average of C$37.67 and a 200-day simple moving average of C$35.54. The firm has a market cap of C$9.03 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09.

Keyera (TSE:KEY) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$0.31 earnings per share for the quarter, missing the consensus estimate of C$0.52 by C($0.21). Keyera had a return on equity of 12.77% and a net margin of 5.26%. The business had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.92 billion. Equities analysts anticipate that Keyera Corp. will post 2.2625146 earnings per share for the current fiscal year.

Keyera Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.08 annualized dividend and a dividend yield of 5.28%. This is an increase from Keyera’s previous quarterly dividend of $0.50. Keyera’s payout ratio is currently 128.21%.

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.