Keyera (TSE:KEY) Sets New 52-Week High – What’s Next?

Keyera Corp. (TSE:KEY)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$59.14 and last traded at C$59.09, with a volume of 1768606 shares. The stock had previously closed at C$57.38.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KEY. Jefferies Financial Group set a C$65.00 price objective on shares of Keyera and gave the stock a “buy” rating in a research note on Tuesday, May 19th. TD set a C$68.00 price objective on shares of Keyera and gave the stock a “buy” rating in a research note on Tuesday. ATB Cormark Capital Markets upped their target price on shares of Keyera from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 21st. Barclays upped their target price on shares of Keyera from C$48.00 to C$53.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Finally, National Bank Financial upped their target price on shares of Keyera from C$50.00 to C$56.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.29.

Keyera Price Performance

The stock’s 50-day moving average price is C$53.69 and its 200-day moving average price is C$49.62. The company has a market capitalization of C$13.52 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. The company has a quick ratio of 0.57, a current ratio of 1.60 and a debt-to-equity ratio of 249.10.

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

Keyera Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, June 15th. Keyera’s dividend payout ratio is currently 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.