Keyera Corp. (TSE:KEY) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is “Moderate Buy”: Ten of 14 covering brokerages rate Keyera a buy, while four recommend hold; the average 12-month price target is C$73.
• Keyera reported quarterly earnings of C$1.19 per share on C$2.40 billion in revenue.
• The company raised its quarterly dividend from C$0.54 to C$0.5625 per share, equivalent to C$2.25 annually and a 4.1% yield.

Shares of Keyera Corp. (TSE:KEY - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$73.00.

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Keyera from C$56.00 to C$61.00 in a report on Friday, August 7th. Desjardins increased their price target on Keyera from C$103.00 to C$112.00 and gave the stock a "buy" rating in a report on Friday, September 4th. Royal Bank Of Canada increased their price target on Keyera from C$62.00 to C$66.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Stifel Nicolaus boosted their price objective on shares of Keyera from C$85.00 to C$90.00 and gave the company a "hold" rating in a research note on Friday, September 4th. Finally, Citigroup upped their price objective on shares of Keyera from C$102.00 to C$106.00 and gave the stock a "buy" rating in a research report on Friday, September 4th.

Keyera Price Performance

Shares of TSE KEY opened at C$54.35 on Wednesday. The stock has a market cap of C$15.95 billion, a P/E ratio of 35.52, a P/E/G ratio of 1.35 and a beta of 0.59. Keyera has a twelve month low of C$40.09 and a twelve month high of C$61.41. The stock has a 50 day moving average of C$55.00 and a two-hundred day moving average of C$54.36. The company has a current ratio of 1.22, a quick ratio of 0.57 and a debt-to-equity ratio of 160.65.

Keyera (TSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 EPS for the quarter. The firm had revenue of C$2.40 billion during the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. On average, research analysts forecast that Keyera will post 2.22 earnings per share for the current year.

Keyera Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were issued a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Keyera's previous quarterly dividend of $0.54. This represents a $2.25 annualized dividend and a dividend yield of 4.1%. Keyera's payout ratio is presently 141.18%.

Insider Activity

In other news, Director Taylor Timothy Kitchen purchased 500 shares of the company's stock in a transaction dated Friday, September 4th. The shares were acquired at an average cost of C$55.74 per share, for a total transaction of C$27,870.00. Following the completion of the purchase, the director directly owned 7,500 shares in the company, valued at C$418,050. The trade was a 7.14% increase in their position. 0.39% of the stock is currently owned by company insiders.

Keyera Company Profile

Keyera Corp. TSX: KEY operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

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