Keyera Corp. (TSE:KEY) Increases Dividend to $0.56 Per Share

Keyera Corp. (TSE:KEY) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of 0.5625 per share on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 15th. This is a 4.2% increase from Keyera’s previous quarterly dividend of $0.54.

Keyera Price Performance

KEY stock traded down C$0.61 during trading hours on Friday, hitting C$54.54. 1,656,028 shares of the stock traded hands, compared to its average volume of 1,439,826. The stock has a 50-day simple moving average of C$58.63 and a 200 day simple moving average of C$55.77. The company has a market cap of C$16.00 billion, a P/E ratio of 35.65, a P/E/G ratio of 1.35 and a beta of 0.46. Keyera has a one year low of C$40.09 and a one year high of C$61.41. The company has a current ratio of 1.22, a quick ratio of 0.57 and a debt-to-equity ratio of 160.65.

Keyera (TSE:KEY) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 EPS 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 for the quarter. Equities analysts forecast that Keyera will post 2.2166667 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their target price 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. Citigroup lifted their price target on shares of Keyera from C$102.00 to C$106.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. Royal Bank Of Canada upped their price target on Keyera from C$62.00 to C$66.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Raymond James Financial dropped their price target on Keyera from C$66.00 to C$65.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, BMO Capital Markets cut their price objective on Keyera from C$65.00 to C$64.00 and set an “outperform” rating for the company in a research report on Friday, September 4th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$73.00.

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.