Keyera Corp. (TSE:KEY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Keyera, with 11 buy ratings and four holds among 15 brokerages. The average 12-month price target is C$73.00, though recent targets range from C$65.00 to C$112.00.
• Keyera increased its quarterly dividend to C$0.5625 per share, or C$2.25 annually, representing a 4.1% yield and an increase from the previous C$0.54 payment.
• The stock opened at C$54.76, below its 50-day moving average of C$58.60, while the company reported C$1.19 in quarterly EPS and C$2.40 billion in revenue. Director Taylor Timothy Kitchen also bought 500 shares worth C$27,870.

Keyera Corp. (TSE:KEY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$73.00.

A number of equities analysts have weighed in on KEY shares. Scotia boosted their price target on Keyera from C$88.00 to C$92.00 and gave the stock a "sector perform" rating in a research report on Friday, September 4th. Jefferies Financial Group set a C$65.00 price objective on Keyera and gave the company a "buy" rating in a research report on Tuesday, May 19th. Royal Bank Of Canada lifted their target price on Keyera from C$62.00 to C$66.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Citigroup boosted their target price on Keyera from C$102.00 to C$106.00 and gave the stock a "buy" rating in a report on Friday, September 4th. Finally, Desjardins increased their price target on Keyera from C$103.00 to C$112.00 and gave the company a "buy" rating in a research note on Friday, September 4th.

Insiders Place Their Bets

In related news, Director Taylor Timothy Kitchen purchased 500 shares of the stock in a transaction on Friday, September 4th. The shares were purchased at an average cost of C$55.74 per share, with a total value of C$27,870.00. Following the acquisition, the director directly owned 7,500 shares in the company, valued at C$418,050. The trade was a 7.14% increase in their ownership of the stock. 0.39% of the stock is currently owned by corporate insiders.

Keyera Stock Performance

Shares of KEY opened at C$54.76 on Tuesday. The firm has a 50-day moving average of C$58.60 and a 200-day moving average of C$55.82. Keyera has a one year low of C$40.09 and a one year high of C$61.41. The company has a market cap of C$16.07 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 1.35 and a beta of 0.46. The company has a debt-to-equity ratio of 160.65, a current ratio of 1.22 and a quick ratio of 0.57.

Keyera (TSE:KEY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. The company had revenue of C$2.40 billion for the quarter. As a group, equities analysts forecast that Keyera will post 2.2166667 earnings per share for the current year.

Keyera Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 4.1%. This is a positive change from Keyera's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, September 15th. Keyera's dividend payout ratio (DPR) is presently 141.18%.

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.

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