Keyera (TSE:KEY) Stock Gets Price Target Cut from National Bank Financial

Keyera (TSE:KEY) had its price objective cut by National Bank Financial from C$63.00 to C$62.00 in a research report report published on Wednesday,BayStreet reports. They currently have an outperform rating on the stock.

Several other analysts also recently commented on the company. Scotia increased their price objective on Keyera from C$88.00 to C$92.00 and gave the stock a “sector perform” rating in a research note on Friday, September 4th. BMO Capital Markets cut their target price on Keyera from C$63.00 to C$62.00 and set a “market perform” rating on the stock in a research report on Wednesday. Barclays upped their price target on Keyera from C$56.00 to C$61.00 in a report on Friday, August 7th. Stifel Nicolaus increased their price target on Keyera from C$85.00 to C$90.00 and gave the company a “hold” rating in a research report on Friday, September 4th. Finally, Royal Bank Of Canada increased their price target on Keyera from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Keyera presently has an average rating of “Moderate Buy” and a consensus price target of C$73.07.

Keyera Stock Performance

Shares of KEY opened at C$51.75 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.57 and a debt-to-equity ratio of 174.48. The firm’s fifty day simple moving average is C$53.74 and its two-hundred day simple moving average is C$54.65. Keyera has a 12 month low of C$40.09 and a 12 month high of C$61.41. The stock has a market capitalization of C$15.19 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.

Keyera (TSE:KEY) last posted its quarterly earnings data on Tuesday, November 10th. The company reported C($0.23) earnings per share for the quarter. Keyera had a return on equity of 5.34% and a net margin of 2.54%. The business had revenue of C$2.44 billion during the quarter. As a group, analysts predict that Keyera will post 2.22 EPS for the current year.

Keyera Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.25 annualized dividend and a dividend yield of 4.3%. This is an increase from Keyera’s previous quarterly dividend of $0.54. Keyera’s payout ratio is 141.18%.

Insider Activity at Keyera

In other Keyera news, Director Taylor Timothy Kitchen bought 500 shares of the business’s stock in a transaction dated 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 directly owned 7,500 shares of the company’s stock, valued at approximately C$418,050. This represents a 7.14% increase in their ownership of the stock. 0.39% of the stock is currently owned by corporate insiders.

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.