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

Key Points

• Keyera Corp. shares have crossed above their 200-day moving average, reaching a high of C$45.12 before last trading at C$44.90.
• Analysts are optimistic about Keyera, with multiple firms raising their price targets and maintaining positive ratings, resulting in an average consensus target price of C$50.92.
• Keyera has announced an increase in its quarterly dividend to $0.54, reflecting a yield of 4.8% and a dividend payout ratio of 90.04%.

Shares of Keyera Corp. (TSE:KEY - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$43.05 and traded as high as C$45.12. Keyera shares last traded at C$44.90, with a volume of 662,665 shares trading hands.

Wall Street Analysts Forecast Growth

KEY has been the subject of several analyst reports. Raymond James Financial raised their price target on shares of Keyera from C$51.00 to C$59.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. BMO Capital Markets raised shares of Keyera from a "hold" rating to a "strong-buy" rating and raised their price target for the company from C$45.50 to C$54.00 in a research note on Wednesday, June 18th. Tudor Pickering raised Keyera from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. National Bankshares set a C$45.00 price target on Keyera and gave the company a "sector perform" rating in a research note on Friday, June 20th. Finally, Citigroup upped their target price on Keyera from C$50.00 to C$51.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Four investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$50.92.

Keyera Price Performance

The firm has a market capitalization of C$10.29 billion, a P/E ratio of 19.44, a PEG ratio of 1.35 and a beta of 0.67. The company has a fifty day moving average of C$43.80 and a 200 day moving average of C$43.05. The company has a debt-to-equity ratio of 137.59, a current ratio of 1.31 and a quick ratio of 0.57.

Keyera Increases Dividend

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

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