Keyera (TSE:KEY) Reaches New 12-Month High After Dividend Announcement

Shares of Keyera Corp. (TSE:KEY) hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as C$54.60 and last traded at C$54.10, with a volume of 3950771 shares traded. The stock had previously closed at C$54.04.

The newly announced dividend which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, March 16th. Keyera’s dividend payout ratio is presently 112.17%.

Analyst Upgrades and Downgrades

KEY has been the topic of several analyst reports. National Bank Financial dropped their target price on Keyera from C$48.00 to C$46.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Barclays boosted their price target on shares of Keyera from C$43.00 to C$48.00 in a report on Friday, February 13th. TD Securities upped their price target on shares of Keyera from C$52.00 to C$56.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Citigroup increased their price objective on shares of Keyera from C$51.00 to C$58.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, BMO Capital Markets cut their price objective on shares of Keyera from C$54.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Keyera presently has an average rating of “Moderate Buy” and a consensus target price of C$52.45.

Keyera Price Performance

The stock has a 50-day simple moving average of C$48.55 and a 200 day simple moving average of C$45.64. The company has a debt-to-equity ratio of 227.74, a quick ratio of 0.57 and a current ratio of 1.76. The company has a market cap of C$12.29 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.35 and a beta of 0.70.

Keyera (TSE:KEY) last released its quarterly earnings data on Thursday, February 12th. The company reported C$0.39 earnings per share (EPS) for the quarter. The business had revenue of C$1.70 billion for the quarter. Keyera had a return on equity of 15.39% and a net margin of 6.34%. On average, equities analysts expect that Keyera Corp. will post 2.2166667 EPS for the current year.

About Keyera

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.