Keyera (TSE:KEY) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Keyera shares hit a new 52-week high after Scotiabank lifted its price target from C$65 to C$66 and kept a sector outperform rating. The stock traded as high as C$60.30, above its previous close of C$59.36.
• Several other analysts have also turned more bullish on Keyera, with multiple firms raising targets and ratings in recent reports. The stock now carries a consensus Moderate Buy rating and an average target price of C$60.93.
• The company recently paid a quarterly dividend of C$0.54 per share, equal to an annualized yield of 3.6%. Keyera also reported its latest quarter with EPS of C($0.53) on revenue of C$1.30 billion.

Keyera Corp. (TSE:KEY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$65.00 to C$66.00. Scotiabank currently has a sector outperform rating on the stock. Keyera traded as high as C$60.30 and last traded at C$60.25, with a volume of 224945 shares. The stock had previously closed at C$59.36.

KEY has been the subject of several other research reports. TD set a C$68.00 target price on shares of Keyera and gave the stock a "buy" rating in a report on Tuesday, June 9th. ATB Cormark Capital Markets increased their price objective on shares of Keyera from C$55.00 to C$58.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 16th. BMO Capital Markets raised their price objective on shares of Keyera from C$60.00 to C$65.00 in a research note on Tuesday, June 16th. Scotia boosted their target price on Keyera from C$55.00 to C$60.00 and gave the company a "sector outperform" rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada upped their target price on Keyera from C$60.00 to C$62.00 and gave the company an "outperform" rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$60.93.

Keyera Price Performance

The company has a debt-to-equity ratio of 249.10, a quick ratio of 0.57 and a current ratio of 1.60. The firm has a market cap of C$17.71 billion, a PE ratio of 76.38, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49. The stock has a 50 day simple moving average of C$57.55 and a two-hundred day simple moving average of C$52.49.

Keyera (TSE:KEY - Get Free Report) last released its 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 for the quarter. Keyera had a return on equity of 6.59% and a net margin of 2.73%. Sell-side analysts expect that Keyera Corp. will post 2.2166667 earnings per share for the current year.

Keyera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.16 annualized dividend and a yield of 3.6%. Keyera's dividend payout ratio is presently 270.89%.

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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