Keyera (TSE:KEY) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Keyera Corp's share price recently crossed above its 200-day moving average, reaching a high of C$44.55, indicating a positive trend in trading.
• Several financial institutions have upgraded their ratings for Keyera, with Citigroup raising the price target to C$51.00 and Raymond James to C$59.00.
• The company announced a quarterly dividend increase to $0.54 per share, offering an annual yield of 4.9%, up from the previous $0.52 per share.

Keyera Corp. (TSE:KEY - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$43.51 and traded as high as C$44.55. Keyera shares last traded at C$44.50, with a volume of 1,379,920 shares trading hands.

Wall Street Analyst Weigh In

KEY has been the topic of several research reports. Citigroup lifted their price target on shares of Keyera from C$50.00 to C$51.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Wells Fargo & Company lifted their price target on shares of Keyera from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Raymond James Financial lifted their target price on shares of Keyera from C$51.00 to C$59.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Tudor Pickering raised shares of Keyera from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada lifted their target price on shares of Keyera from C$46.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$51.36.

Keyera Trading Up 1.4%

The company has a debt-to-equity ratio of 137.59, a quick ratio of 0.57 and a current ratio of 1.31. The stock's 50-day simple moving average is C$44.93 and its 200-day simple moving average is C$43.51. The firm has a market capitalization of C$10.20 billion, a PE ratio of 19.26, a P/E/G ratio of 1.35 and a beta of 0.56.

Keyera Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. This is an increase from Keyera's previous quarterly dividend of $0.52. Keyera's 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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