Keyera (TSE:KEY) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Keyera shares crossed above their 200-day moving average during Thursday’s trading, reaching as high as C$59.16 before last trading at C$58.25.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and an average target price of C$60.64, even as some firms recently adjusted their targets slightly.
• The company recently paid a quarterly dividend of C$0.54, equal to an annualized yield of 3.7%, while its latest earnings showed C($0.53) EPS on revenue of C$1.30 billion.

Keyera Corp. (TSE:KEY - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$51.65 and traded as high as C$59.16. Keyera shares last traded at C$58.25, with a volume of 784,275 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KEY. Raymond James Financial reduced their price target on Keyera from C$66.00 to C$65.00 and set an "outperform" rating for the company in a report on Tuesday, June 23rd. ATB Cormark Capital Markets upped their price objective on Keyera from C$55.00 to C$58.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 16th. Royal Bank Of Canada increased their price objective on Keyera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 16th. Barclays raised their target price on Keyera from C$48.00 to C$53.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Finally, Scotia boosted their target price on shares of Keyera from C$55.00 to C$60.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Keyera presently has a consensus rating of "Moderate Buy" and an average target price of C$60.64.

Keyera Stock Down 1.5%

The stock has a market capitalization of C$17.09 billion, a PE ratio of 73.73, a P/E/G ratio of 1.35 and a beta of 0.49. The firm has a 50 day moving average of C$56.36 and a two-hundred day moving average of C$51.65. The company has a current ratio of 1.60, a quick ratio of 0.57 and a debt-to-equity ratio of 249.10.

Keyera (TSE:KEY - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported C($0.53) EPS for the quarter. The firm 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%. Equities research analysts anticipate that Keyera Corp. will post 2.2166667 earnings per share for the current year.

Keyera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.54 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.16 annualized dividend and a dividend yield of 3.7%. Keyera's payout ratio is currently 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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