Keyera (TSE:KEY) Reaches New 1-Year High on Analyst Upgrade

Keyera Corp. (TSE:KEY)’s share price hit 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 traded. The stock had previously closed at C$59.36.

A number of other brokerages also recently issued reports on KEY. Jefferies Financial Group set a C$65.00 price target on Keyera and gave the company a “buy” rating in a report on Tuesday, May 19th. Raymond James Financial reduced their target price on shares of 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 target on shares of Keyera from C$61.00 to C$62.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. TD set a C$68.00 target price on shares of Keyera and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of Keyera from C$55.00 to C$58.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Keyera presently has an average rating of “Moderate Buy” and an average price target of C$60.93.

Keyera Stock Up 1.7%

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 firm has a market capitalization of C$17.71 billion, a price-to-earnings ratio of 76.38, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49. The firm has a 50 day moving average price of C$57.55 and a two-hundred day moving average price of C$52.49.

Keyera (TSE:KEY) last released its quarterly earnings data on Thursday, May 14th. The company reported C($0.53) EPS for the quarter. The company had revenue of C$1.30 billion during the quarter. Keyera had a net margin of 2.73% and a return on equity of 6.59%. On average, equities analysts expect that Keyera Corp. will post 2.2166667 earnings per share for the current fiscal year.

Keyera Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, June 15th. Keyera’s dividend payout ratio (DPR) 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.