Keyera (TSE:KEY) Trading 1.2% Higher - Here's Why

Keyera Corp. (TSE:KEY - Get Free Report)'s share price traded up 1.2% during mid-day trading on Wednesday . The stock traded as high as C$42.13 and last traded at C$42.07. 4,152,101 shares traded hands during mid-day trading, an increase of 232% from the average session volume of 1,250,393 shares. The stock had previously closed at C$41.59.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. CIBC decreased their price target on shares of Keyera from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada increased their price target on shares of Keyera from C$46.00 to C$53.00 in a research note on Friday. National Bankshares set a C$45.00 price target on shares of Keyera and gave the stock a "sector perform" rating in a research note on Friday. TD Securities increased their price target on shares of Keyera from C$47.00 to C$51.00 in a research note on Friday. Finally, BMO Capital Markets upgraded shares of Keyera from a "hold" rating to a "strong-buy" rating and increased their price target for the stock from C$45.50 to C$54.00 in a research note on Wednesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$49.00.

Keyera Stock Up 1.1%

The company's 50-day moving average is C$42.56 and its 200 day moving average is C$42.72. The company has a market capitalization of C$10.20 billion, a PE ratio of 22.82, a P/E/G ratio of 1.35 and a beta of 2.09. The company has a debt-to-equity ratio of 137.59, a quick ratio of 0.57 and a current ratio of 1.31.

Keyera Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Monday, June 16th. Keyera's payout ratio is presently 107.20%.

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.