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

Keyera Corp. (TSE:KEY - Get Free Report) shares were 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. Approximately 4,152,101 shares were traded during mid-day trading, an increase of 232% from the average daily volume of 1,250,393 shares. The stock had previously closed at C$41.59.

Analysts Set New Price Targets

Several research analysts recently issued reports on KEY shares. Raymond James Financial increased their price target on shares of Keyera from C$50.00 to C$51.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Scotiabank boosted their price objective on shares of Keyera from C$50.00 to C$51.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. TD Securities raised their price target on Keyera from C$45.00 to C$47.00 and gave the stock a "hold" rating in a research report on Thursday, May 22nd. CIBC cut their price objective on shares of Keyera from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, National Bankshares raised their price target on Keyera from C$41.00 to C$43.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$46.91.

Keyera Stock Up 5.0%

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 capitalization of C$10.18 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09. The firm has a 50-day simple moving average of C$42.29 and a 200 day simple moving average of C$42.73.

Keyera Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.71%. Keyera's dividend payout ratio is currently 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.

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