Keyera (TSE:KEY) Sets New 12-Month High Following Dividend Announcement

Keyera Corp. (TSE:KEY)’s stock price hit a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as C$54.60 and last traded at C$54.10, with a volume of 3950771 shares traded. The stock had previously closed at C$54.04.

The newly announced dividend which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.16 annualized dividend and a yield of 4.0%. Keyera’s payout ratio is 112.17%.

Analyst Ratings Changes

A number of research firms have recently commented on KEY. Citigroup upped their price target on Keyera from C$51.00 to C$58.00 and gave the company a “buy” rating in a report on Monday, February 23rd. TD Securities upped their target price on shares of Keyera from C$52.00 to C$56.00 and gave the company a “buy” rating in a research note on Friday, February 13th. National Bank Financial decreased their price objective on shares of Keyera from C$48.00 to C$46.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Barclays increased their price objective on shares of Keyera from C$43.00 to C$48.00 in a research report on Friday, February 13th. Finally, BMO Capital Markets cut their target price on shares of Keyera from C$54.00 to C$51.00 and set an “outperform” rating for the company in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$52.45.

Keyera Stock Performance

The company has a debt-to-equity ratio of 227.74, a quick ratio of 0.57 and a current ratio of 1.76. The stock has a market cap of C$12.37 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.35 and a beta of 0.70. The business’s 50-day moving average price is C$48.34 and its 200-day moving average price is C$45.57.

Keyera (TSE:KEY) last announced its earnings results on Thursday, February 12th. The company reported C$0.39 EPS for the quarter. Keyera had a return on equity of 15.39% and a net margin of 6.34%.The company had revenue of C$1.70 billion for the quarter. As a group, sell-side analysts expect that Keyera Corp. will post 2.2166667 earnings per share for the current fiscal year.

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.