Keyera (TSE:KEY) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Keyera Corp.'s share price has recently passed above its 200-day moving average while trading at C$44.49, indicating positive momentum in the stock.
• Multiple analysts have upgraded Keyera's share price targets, with Royal Bank of Canada raising it to C$53.00 and Raymond James to C$59.00, both maintaining "outperform" ratings.
• The company has announced an increase in its quarterly dividend to $0.54 per share, representing an annualized yield of 4.9%, up from the previous dividend of $0.52.

Keyera Corp. (TSE:KEY - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$42.94 and traded as high as C$44.58. Keyera shares last traded at C$44.49, with a volume of 714,752 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KEY shares. Royal Bank Of Canada lifted their target price on Keyera from C$46.00 to C$53.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. National Bankshares set a C$45.00 price target on Keyera and gave the stock a "sector perform" rating in a research report on Friday, June 20th. Wells Fargo & Company boosted their price target on Keyera from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Tudor Pickering raised Keyera from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, TD Securities raised Keyera from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from C$47.00 to C$51.00 in a report on Friday, June 20th. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Keyera presently has an average rating of "Buy" and an average price target of C$50.92.

Keyera Trading Up 0.2%

The company has a current ratio of 1.31, a quick ratio of 0.57 and a debt-to-equity ratio of 137.59. The firm has a market capitalization of C$10.22 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 0.67. The firm has a 50-day moving average of C$43.70 and a two-hundred day moving average of C$42.99.

Keyera Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a $0.54 dividend. This is a boost from Keyera's previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, September 15th. Keyera's dividend payout ratio is 90.04%.

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.