Keyera (TSE:KEY) Shares Pass Above 200 Day Moving Average - Should You Sell?

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%.

Keyera Corp. (TSE:KEY - Get Free Report) passed 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 Analyst Weigh In

Several research firms have recently issued reports on KEY. Citigroup raised their price target on Keyera from C$50.00 to C$51.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Wells Fargo & Company lifted their target price on Keyera from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. BMO Capital Markets upgraded Keyera from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from C$45.50 to C$54.00 in a report on Wednesday, June 18th. ATB Capital upped their target price on Keyera from C$46.00 to C$48.00 and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Finally, Tudor Pickering upgraded Keyera from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$50.92.

Keyera Stock Down 0.0%

The firm has a 50-day moving average price of C$44.00 and a 200 day moving average price of C$43.14. The company has a debt-to-equity ratio of 137.59, a current ratio of 1.31 and a quick ratio of 0.57. The company has a market cap of C$10.33 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.35 and a beta of 0.67.

Keyera Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be given a dividend of $0.54 per share. 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%. The ex-dividend date of this dividend is Monday, September 15th. Keyera's dividend payout ratio (DPR) is currently 90.04%.

About Keyera

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.