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

Key Points

• Keyera shares rose above their 200-day moving average, reaching C$60.30 and closing at C$60.11, up 1.7% with trading volume of about 2.42 million shares.
• Analyst sentiment remains positive: 11 analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of C$62.69.
• Keyera reported quarterly EPS of C$1.19 on C$2.40 billion in revenue and maintains a quarterly dividend of C$0.54 per share, equivalent to a 3.6% annual yield.

Keyera Corp. (TSE:KEY - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$55.43 and traded as high as C$60.30. Keyera shares last traded at C$60.11, with a volume of 2,416,584 shares.

Analyst Ratings Changes

Several brokerages have recently commented on KEY. Barclays increased their price target on shares of Keyera from C$56.00 to C$61.00 in a research report on Friday, August 7th. Jefferies Financial Group set a C$65.00 price objective on Keyera and gave the company a "buy" rating in a report on Tuesday, May 19th. National Bank Financial upped their price objective on Keyera from C$61.00 to C$62.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Scotia increased their target price on Keyera from C$55.00 to C$60.00 and gave the stock a "sector outperform" rating in a report on Friday, May 15th. Finally, BMO Capital Markets lifted their target price on Keyera from C$60.00 to C$65.00 in a research report on Tuesday, June 16th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$62.69.

Keyera Trading Up 1.7%

The stock has a market cap of C$17.64 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 1.35 and a beta of 0.48. The firm's 50 day simple moving average is C$58.67 and its two-hundred day simple moving average is C$55.43. The company has a quick ratio of 0.57, a current ratio of 1.22 and a debt-to-equity ratio of 160.65.

Keyera (TSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. The company had revenue of C$2.40 billion for the quarter. As a group, equities research analysts predict that Keyera Corp. will post 2.2166667 earnings per share for the current fiscal year.

Keyera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, June 15th. This represents a $2.16 annualized dividend and a yield of 3.6%. Keyera's dividend payout ratio is 141.18%.

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. The firm currently has interests in about a dozen active gas plants and operates over 4,000 km of pipelines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source