Keyera (TSE:KEY) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Shares of Keyera recently moved above its 200-day moving average
• Analysts are broadly positive with a consensus rating of "Moderate Buy" and an average price target of C$53.55 after several firms raised targets in recent months.
• Keyera pays a 4.4% dividend (C$2.16 annualized), but the payout ratio is 112% and the company has high leverage (debt-to-equity 227.74%), which could raise sustainability concerns.

Shares of Keyera Corp. (TSE:KEY - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$46.81 and traded as high as C$49.70. Keyera shares last traded at C$49.25, with a volume of 1,018,485 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on KEY shares. Raymond James Financial increased their target price on Keyera from C$63.00 to C$66.00 in a research note on Monday, March 30th. Barclays increased their price target on Keyera from C$48.00 to C$53.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 9th. TD Securities increased their price target 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. National Bank Financial dropped 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 report on Tuesday, January 20th. Finally, Citigroup increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Keyera has an average rating of "Moderate Buy" and a consensus target price of C$53.55.

Keyera Stock Up 0.6%

The company has a current ratio of 1.76, a quick ratio of 0.57 and a debt-to-equity ratio of 227.74. The business has a 50-day moving average price of C$52.25 and a 200-day moving average price of C$46.81. The firm has a market cap of C$11.29 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.35 and a beta of 0.52.

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

Keyera Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.16 dividend on an annualized basis and a yield of 4.4%. Keyera's dividend payout ratio (DPR) is presently 112.17%.

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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