Keyera (TSE:KEY) Stock Price Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Keyera shares crossed above their 50-day moving average, reaching C$55.82 before closing at C$55.50 on trading volume of about 1 million shares.
• Analysts remain generally positive, with 10 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of C$73.00.
• Keyera raised its quarterly dividend to $0.5625 per share, equivalent to a 4.1% annualized yield, while reporting C$1.19 in quarterly EPS and C$2.40 billion in revenue.

Keyera Corp. (TSE:KEY - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$55.20 and traded as high as C$55.82. Keyera shares last traded at C$55.50, with a volume of 1,001,734 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KEY. Stifel Nicolaus upped their price objective on shares of Keyera from C$85.00 to C$90.00 and gave the stock a "hold" rating in a report on Friday, September 4th. TD cut their target price on shares of Keyera from C$70.00 to C$67.00 and set a "buy" rating for the company in a research report on Friday, September 4th. Citigroup raised their price objective on shares of Keyera from C$102.00 to C$106.00 and gave the company a "buy" rating in a research report on Friday, September 4th. Desjardins upped their target price on Keyera from C$103.00 to C$112.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. Finally, Barclays upped their target price on shares of Keyera from C$56.00 to C$61.00 in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$73.00.

Keyera Price Performance

The company has a debt-to-equity ratio of 160.65, a current ratio of 1.22 and a quick ratio of 0.57. The firm has a market capitalization of C$16.29 billion, a P/E ratio of 36.27, a PEG ratio of 1.35 and a beta of 0.59. The company's 50 day moving average price is C$55.20 and its 200 day moving average price is C$54.25.

Keyera (TSE:KEY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$1.19 earnings per share for the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. The firm had revenue of C$2.40 billion during the quarter. As a group, sell-side analysts anticipate that Keyera Corp. will post 2.22 EPS for the current fiscal year.

Keyera Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a dividend of $0.5625 per share. The ex-dividend date was Tuesday, September 15th. This is a boost from Keyera's previous quarterly dividend of $0.54. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.1%. Keyera's dividend payout ratio is 141.18%.

Insider Transactions at Keyera

In other news, Director Taylor Timothy Kitchen bought 500 shares of the business's stock in a transaction on Friday, September 4th. The shares were purchased at an average price of C$55.74 per share, for a total transaction of C$27,870.00. Following the purchase, the director owned 7,500 shares of the company's stock, valued at approximately C$418,050. The trade was a 7.14% increase in their position. Corporate insiders own 0.39% of the company's stock.

About Keyera

Keyera Corp. TSX: KEY operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

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