Keyera (TSE:KEY) Sets New 1-Year High – Still a Buy?

Keyera Corp. (TSE:KEY) shares hit a new 52-week high on Wednesday . The stock traded as high as C$61.39 and last traded at C$60.70, with a volume of 945659 shares changing hands. The stock had previously closed at C$59.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD set a C$68.00 price objective on shares of Keyera and gave the company a “buy” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada upped their target price on shares of Keyera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce increased their target price on shares of Keyera from C$63.00 to C$65.00 in a research note on Tuesday, June 16th. Barclays boosted their price target on shares of Keyera from C$53.00 to C$56.00 in a research report on Wednesday, July 15th. Finally, Scotiabank upped their price target on shares of Keyera from C$65.00 to C$66.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 21st. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$60.93.

Keyera Trading Up 1.8%

The company has a debt-to-equity ratio of 249.10, a quick ratio of 0.57 and a current ratio of 1.60. The stock has a market cap of C$17.72 billion, a P/E ratio of 76.46, a P/E/G ratio of 1.35 and a beta of 0.49. The stock has a 50-day moving average price of C$57.93 and a 200-day moving average price of C$53.07.

Keyera (TSE:KEY) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.53) earnings per share for the quarter. The company had revenue of C$1.30 billion during the quarter. Keyera had a return on equity of 6.59% and a net margin of 2.73%. On average, equities research analysts expect that Keyera Corp. will post 2.2166667 EPS for the current year.

Keyera Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.54 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. Keyera’s dividend payout ratio is presently 270.89%.

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.