Keyera (TSE:KEY) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Keyera Corp. (TSE:KEY) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$50.98 and traded as high as C$58.30. Keyera shares last traded at C$56.97, with a volume of 1,175,813 shares.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KEY shares. Royal Bank Of Canada lifted their price target on Keyera from C$60.00 to C$62.00 and gave the company an “outperform” rating in a report on Tuesday, June 16th. TD set a C$68.00 price objective on Keyera and gave the stock a “buy” rating in a report on Tuesday, June 9th. Raymond James Financial cut their price objective on shares of Keyera from C$66.00 to C$65.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. National Bank Financial boosted their target price on shares of Keyera from C$61.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of Keyera from C$63.00 to C$65.00 in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$60.64.

Keyera Trading Down 1.8%

The stock has a market capitalization of C$16.42 billion, a price-to-earnings ratio of 70.82, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. 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 company has a fifty day moving average of C$55.49 and a two-hundred day moving average of C$51.07.

Keyera (TSE:KEY) last announced its quarterly earnings results on Thursday, May 14th. The company reported C($0.53) 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 for the quarter. On average, research analysts expect that Keyera Corp. will post 2.2166667 EPS for the current year.

Keyera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, June 15th. Keyera’s dividend payout ratio (DPR) is 270.89%.

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.