Keyera (TSE:KEY) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Keyera Corp. shares recently surpassed their 200-day moving average of C$42.60, trading at C$42.86 with significant volume.
• Multiple analysts have upgraded Keyera's ratings, with price targets ranging from C$45.00 to C$59.00, indicating overall positive sentiment.
• The company declared a quarterly dividend of $0.52 per share, reflecting a dividend yield of 4.9% but with a high payout ratio of 107.20%.

Keyera Corp. (TSE:KEY - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$42.60 and traded as high as C$43.93. Keyera shares last traded at C$42.86, with a volume of 1,310,101 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their target price on shares of Keyera from C$46.00 to C$53.00 and gave the company an "outperform" rating in a report on Friday, June 20th. National Bankshares set a C$45.00 target price on Keyera and gave the stock a "sector perform" rating in a research report on Friday, June 20th. Tudor Pickering raised Keyera from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. BMO Capital Markets raised shares of Keyera from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from C$45.50 to C$54.00 in a research report on Wednesday, June 18th. Finally, Scotiabank increased their price objective on shares of Keyera from C$51.00 to C$54.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Three analysts have rated the stock with a hold rating, six have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$51.27.

Keyera Stock Up 1.3%

The company has a debt-to-equity ratio of 137.59, a quick ratio of 0.57 and a current ratio of 1.31. The business's 50 day moving average price is C$43.07 and its 200 day moving average price is C$42.61. The firm has a market cap of C$9.99 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.35 and a beta of 2.09.

Keyera Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, June 16th. Keyera's dividend payout ratio is 107.20%.

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.