Keyera (TSE:KEY) Hits New 12-Month High After Analyst Upgrade

Shares of Keyera Corp. (TSE:KEY) 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. The stock had previously closed at C$59.36.

Several other research analysts have also issued reports on KEY. Barclays upped their target price on shares of Keyera from C$53.00 to C$56.00 in a research report on Wednesday, July 15th. ATB Cormark Capital Markets lifted their price target on Keyera from C$55.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 16th. Raymond James Financial cut their price objective on Keyera from C$66.00 to C$65.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. National Bank Financial increased their price objective on Keyera from C$61.00 to C$62.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Scotia raised their price objective on Keyera from C$55.00 to C$60.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$60.93.

Keyera Stock Up 2.0%

The company has a quick ratio of 0.57, a current ratio of 1.60 and a debt-to-equity ratio of 249.10. The company has a 50-day simple moving average of C$57.70 and a two-hundred day simple moving average of C$52.60. The stock has a market cap of C$17.76 billion, a P/E ratio of 76.63, a P/E/G ratio of 1.35 and a beta of 0.49.

Keyera (TSE:KEY) last released its quarterly earnings data on Thursday, May 14th. The company reported C($0.53) earnings per share 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 for the quarter. On average, equities analysts forecast that Keyera Corp. will post 2.2166667 EPS for the current year.

Keyera Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.16 annualized dividend and a yield of 3.6%. 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.