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

Key Points

• Keyera Corp. has received a consensus rating of "Buy" from analysts, with six analysts rating it as a buy and four giving it a strong buy recommendation.
• The average 1-year price target for Keyera shares among analysts is C$50.92, with significant price upgrades from firms like Raymond James and Royal Bank of Canada.
• Keyera announced an increase in its quarterly dividend to $0.54 per share, representing a 4.9% yield for investors.

Keyera Corp. (TSE:KEY - Get Free Report) has been assigned an average rating of "Buy" from the fourteen research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$50.92.

Several research analysts have issued reports on the company. CIBC increased their price objective on Keyera from C$47.00 to C$56.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. ATB Capital increased their target price on Keyera from C$46.00 to C$48.00 and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Citigroup increased their target price on Keyera from C$50.00 to C$51.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. BMO Capital Markets upgraded Keyera from a "hold" rating to a "strong-buy" rating and increased their target price for the stock from C$45.50 to C$54.00 in a report on Wednesday, June 18th. Finally, Tudor Pickering upgraded Keyera from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th.

Keyera Price Performance

Keyera stock traded up C$0.03 during mid-day trading on Friday, hitting C$44.76. 1,094,547 shares of the company were exchanged, compared to its average volume of 1,273,184. The company has a quick ratio of 0.57, a current ratio of 1.31 and a debt-to-equity ratio of 137.59. The business has a fifty day moving average of C$43.72 and a 200 day moving average of C$43.01. Keyera has a 1-year low of C$37.80 and a 1-year high of C$47.90. The company has a market capitalization of C$10.26 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.

Keyera Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a $0.54 dividend. This is a positive change from Keyera's previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, September 15th. Keyera's dividend payout ratio (DPR) is 90.04%.

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.