Keyera (TSE:KEY) Posts Quarterly Earnings Results

Keyera (TSE:KEY) posted its quarterly earnings results on Thursday. The company reported C$0.39 earnings per share (EPS) for the quarter, FiscalAI reports. Keyera had a return on equity of 16.05% and a net margin of 5.97%.The business had revenue of C$1.70 billion during the quarter.

Here are the key takeaways from Keyera’s conference call:

• Keyera announced the transformational acquisition of Plains’ Canadian NGL business, expected to close around the end of Q1 2026 and expand its national platform and integrated value chain to support long‑term growth.
• Management reported record 2025 results in its fee‑for‑service segments and reiterated a 7%–8% fee‑for‑service EBITDA growth outlook to 2027, supported by highly contracted sanctioned projects (two Frac expansions at KFS and KAPS Zone 4).
• The Marketing segment underperformed with realized margin of CAD 300 million in 2025 versus CAD 485 million in 2024, and management warned marketing results remain contingent on market conditions.
• An unplanned outage at the AEF facility will weigh on near‑term production and reduce 2026 marketing guidance by approximately CAD 110 million; repairs are underway with full production expected in May.
• 2026 guidance calls for growth capital CAD 400–475 million, maintenance CAD 140–160 million and cash taxes CAD 60–70 million, while management emphasizes a conservative dividend payout, deleveraging to the low end of targets and reinvesting in fee‑based growth.

Keyera Stock Performance

Shares of KEY traded up C$1.55 during midday trading on Thursday, reaching C$50.63. 514,446 shares of the stock were exchanged, compared to its average volume of 1,235,041. The business’s 50-day moving average price is C$44.57 and its 200 day moving average price is C$44.22. The company has a debt-to-equity ratio of 137.59, a current ratio of 1.31 and a quick ratio of 0.57. Keyera has a twelve month low of C$37.80 and a twelve month high of C$51.17. The company has a market capitalization of C$11.61 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.35 and a beta of 0.58.

Keyera Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.16 annualized dividend and a dividend yield of 4.3%. Keyera’s dividend payout ratio (DPR) is presently 112.30%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of analyst reports. TD Securities reduced their price objective on shares of Keyera from C$54.00 to C$52.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. BMO Capital Markets cut their price target on Keyera from C$54.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. National Bank Financial decreased their price target on Keyera from C$48.00 to C$46.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Finally, Barclays dropped their price objective on Keyera from C$45.00 to C$43.00 in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Keyera has an average rating of “Moderate Buy” and an average target price of C$51.00.

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.