Keyera (TSE:KEY) Reaches New 1-Year High - Still a Buy?

Key Points

• Shares hit a new 52-week high, trading as high as C$55.35 and last at C$54.66 (up about 0.9%), with a market cap of C$12.57 billion.
• Analysts hold a consensus rating of "Moderate Buy" with an average target of C$52.45, while several firms have recently raised price targets and issued buy ratings.
• Keyera announced a quarterly dividend of C$0.54 (annualized C$2.16, 3.9% yield), though its dividend payout ratio is high at 112.17%, which may raise sustainability concerns.

Shares of Keyera Corp. (TSE:KEY - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as C$55.35 and last traded at C$54.66, with a volume of 115131 shares traded. The stock had previously closed at C$54.34.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KEY. Barclays upped their price objective on Keyera from C$43.00 to C$48.00 in a report on Friday, February 13th. Citigroup boosted their target price on Keyera from C$51.00 to C$58.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. National Bank Financial cut their price target on Keyera from C$48.00 to C$46.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 20th. BMO Capital Markets decreased their price target on Keyera from C$54.00 to C$51.00 and set an "outperform" rating on the stock in a report on Friday, January 9th. Finally, TD Securities lifted their price objective on Keyera from C$52.00 to C$56.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Keyera has a consensus rating of "Moderate Buy" and an average target price of C$52.45.

Keyera Trading Up 0.9%

The business's 50 day simple moving average is C$50.29 and its 200-day simple moving average is C$46.17. The company has a debt-to-equity ratio of 227.74, a current ratio of 1.76 and a quick ratio of 0.57. The stock has a market capitalization of C$12.57 billion, a P/E ratio of 29.01, a PEG ratio of 1.35 and a beta of 0.70.

Keyera (TSE:KEY - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported C$0.39 EPS for the quarter. Keyera had a net margin of 6.34% and a return on equity of 15.39%. The company had revenue of C$1.70 billion during the quarter. As a group, analysts forecast that Keyera Corp. will post 2.2166667 EPS for the current year.

Keyera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, March 16th. Keyera's dividend payout ratio is currently 112.17%.

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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