Keyera (TSE:KEY) Reaches New 12-Month High – Here’s Why

Keyera Corp. (TSE:KEY)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$53.97 and last traded at C$53.26, with a volume of 146229 shares trading hands. The stock had previously closed at C$52.06.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KEY shares. Citigroup upped their target price on Keyera from C$51.00 to C$58.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. BMO Capital Markets lowered their price target on Keyera from C$54.00 to C$51.00 and set an “outperform” rating for the company in a report on Friday, January 9th. National Bank Financial dropped their price objective on Keyera from C$48.00 to C$46.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 20th. Barclays lifted their target price on Keyera from C$43.00 to C$48.00 in a research report on Friday, February 13th. Finally, TD Securities boosted their target price on Keyera from C$52.00 to C$56.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.45.

Keyera Stock Down 0.5%

The firm has a market capitalization of C$12.01 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 1.35 and a beta of 0.58. The stock has a fifty day moving average of C$46.69 and a two-hundred day moving average of C$45.04. The company has a debt-to-equity ratio of 227.74, a current ratio of 1.76 and a quick ratio of 0.57.

Keyera (TSE:KEY) last announced its earnings results on Thursday, February 12th. The company reported C$0.39 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%. Sell-side analysts anticipate that Keyera Corp. will post 2.2166667 earnings per share for the current year.

Keyera Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, December 15th. Keyera’s payout ratio is currently 112.17%.

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.