Keyera (TSE:KEY) Hits New 1-Year High – Here’s Why

Keyera Corp. (TSE:KEY)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$44.65 and last traded at C$44.61, with a volume of 162705 shares trading hands. The stock had previously closed at C$44.07.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KEY shares. Raymond James set a C$47.00 target price on shares of Keyera and gave the stock an “outperform” rating in a report on Friday, October 11th. ATB Capital upped their target price on Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. Citigroup lifted their price target on shares of Keyera from C$40.00 to C$46.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price objective on shares of Keyera from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, National Bankshares lifted their target price on shares of Keyera from C$36.00 to C$38.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$41.50.

Keyera Trading Down 1.0 %

The firm has a market cap of C$10.19 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09. The company’s 50-day moving average price is C$42.68 and its 200-day moving average price is C$39.32. The company has a quick ratio of 0.57, a current ratio of 1.30 and a debt-to-equity ratio of 143.51.

Keyera Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, September 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.68%. This is a positive change from Keyera’s previous quarterly dividend of $0.50. Keyera’s payout ratio is 139.60%.

About Keyera

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products, and separate the economic components primarily natural gas liquids; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.