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

Keyera Corp. (TSE:KEY)’s share price reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$65.00 to C$66.00. Scotiabank currently has a sector outperform rating on the stock. Keyera traded as high as C$60.30 and last traded at C$60.25, with a volume of 224945 shares traded. The stock had previously closed at C$59.36.

Several other research firms have also recently issued reports on KEY. BMO Capital Markets raised their price target on shares of Keyera from C$60.00 to C$65.00 in a research note on Tuesday, June 16th. Raymond James Financial cut their price objective on shares of Keyera from C$66.00 to C$65.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. TD set a C$68.00 price objective on shares of Keyera and gave the company a “buy” rating in a research note on Tuesday, June 9th. Scotia raised their target price on shares of Keyera from C$55.00 to C$60.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada raised their target price on shares of Keyera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Keyera has an average rating of “Moderate Buy” and a consensus price target of C$60.93.

Keyera Stock Performance

The company has a market cap of C$17.73 billion, a price-to-earnings ratio of 76.49, a P/E/G ratio of 1.35 and a beta of 0.49. The company has a current ratio of 1.60, a quick ratio of 0.57 and a debt-to-equity ratio of 249.10. The stock’s 50 day moving average price is C$57.81 and its 200 day moving average price is C$52.71.

Keyera (TSE:KEY) last released its earnings results on Thursday, May 14th. The company reported C($0.53) earnings per share (EPS) for the quarter. Keyera had a net margin of 2.73% and a return on equity of 6.59%. The company had revenue of C$1.30 billion during the quarter. On average, analysts expect that Keyera Corp. will post 2.2166667 EPS for the current fiscal year.

Keyera Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Keyera’s dividend payout ratio is presently 270.89%.

Keyera Company Profile

Keyera is a midstream energy business that operates primarily out of Alberta, Canada. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for NGLS and crude oil, and the marketing of NGLs, iso-octane, and crude oil. The firm currently has interests in about a dozen active gas plants and operates over 4,000 km of pipelines.