Keyera (TSE:KEY) Hits New 1-Year High - What's Next?

Key Points

• Keyera shares reached a new 52-week high of C$61.39 and last traded at C$60.70, above the previous close of C$59.31.
• Analyst sentiment remains favorable, with 11 Buy ratings and three Holds; Keyera has a consensus “Moderate Buy” rating and an average price target of C$60.93.
• The company maintains a quarterly dividend of C$0.54, equivalent to C$2.16 annually and a 3.6% yield, though its reported payout ratio is high at 270.89%.

Keyera Corp. (TSE:KEY - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$61.39 and last traded at C$60.70, with a volume of 945659 shares. The stock had previously closed at C$59.31.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KEY. Royal Bank Of Canada upped their price objective on shares of Keyera from C$60.00 to C$62.00 and gave the company an "outperform" rating in a research note on Tuesday, June 16th. Scotiabank lifted their target price on Keyera from C$65.00 to C$66.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce boosted their target price on shares of Keyera from C$63.00 to C$65.00 in a research report on Tuesday, June 16th. TD set a C$68.00 price target on Keyera and gave the stock a "buy" rating in a report on Tuesday, June 9th. Finally, Raymond James Financial reduced their price objective 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. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Keyera has a consensus rating of "Moderate Buy" and an average price target of C$60.93.

Keyera Stock Performance

The company's 50-day moving average is C$57.93 and its two-hundred day moving average is C$53.07. The company has a quick ratio of 0.57, a current ratio of 1.60 and a debt-to-equity ratio of 249.10. The company has a market cap of C$17.72 billion, a P/E ratio of 76.46, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49.

Keyera (TSE:KEY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 6.59% and a net margin of 2.73%. Equities analysts predict that Keyera Corp. will post 2.2166667 EPS for the current year.

Keyera Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. Keyera's payout ratio 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.

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