Keyera (TSE:KEY) Reaches New 12-Month High After 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. The stock had previously closed at C$42.17.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Keyera from C$41.00 to C$44.00 in a report on Friday, August 9th. National Bankshares boosted 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. Citigroup increased their price target on shares of Keyera from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Scotiabank boosted their price target on Keyera from C$40.00 to C$42.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, ATB Capital upped their target price on Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. Three 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$40.91.

Insiders Place Their Bets

In related news, Senior Officer Eileen Marikar sold 1,888 shares of Keyera stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$39.70, for a total value of C$74,953.79. Corporate insiders own 0.39% of the company’s stock.

Keyera Price Performance

The firm has a 50-day simple moving average of C$40.13 and a 200-day simple moving average of C$37.46. The firm has a market capitalization of C$9.86 billion, a PE ratio of 28.66, a PEG ratio of 1.35 and a beta of 2.09. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57.

Keyera (TSE:KEY) last announced its earnings results on Thursday, August 8th. The company reported C$0.62 EPS for the quarter, topping analysts’ consensus estimates of C$0.54 by C$0.08. Keyera had a return on equity of 12.02% and a net margin of 4.86%. The company had revenue of C$1.72 billion for the quarter. As a group, equities analysts forecast that Keyera Corp. will post 2.1985409 earnings per share for the current year.

Keyera Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, September 13th. 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 dividend yield of ∞. Keyera’s dividend payout ratio is 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.