Keyera (TSE:KEY) Hits New 1-Year High Following Dividend Announcement

Keyera Corp. (TSE:KEY) shares hit a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as C$54.60 and last traded at C$54.10, with a volume of 3950771 shares trading hands. The stock had previously closed at C$54.04.

The newly announced dividend which will be paid on Tuesday, March 31st. Investors 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 dividend payout ratio is currently 112.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KEY. Citigroup upped their target price on shares of Keyera from C$51.00 to C$58.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. National Bank Financial lowered their price objective on Keyera from C$48.00 to C$46.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. TD Securities upped their price objective on Keyera from C$52.00 to C$56.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. BMO Capital Markets cut their target price on 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. Finally, Barclays boosted their price target on Keyera from C$43.00 to C$48.00 in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Keyera has an average rating of “Moderate Buy” and a consensus target price of C$52.45.

Keyera Stock Performance

The business’s fifty day moving average is C$48.34 and its two-hundred day moving average is C$45.57. The stock has a market capitalization of C$12.37 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.70. The company has a quick ratio of 0.57, a current ratio of 1.76 and a debt-to-equity ratio of 227.74.

Keyera (TSE:KEY) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.39 EPS for the quarter. Keyera had a net margin of 6.34% and a return on equity of 15.39%. The business had revenue of C$1.70 billion during the quarter. As a group, research analysts anticipate that Keyera Corp. will post 2.2166667 EPS for the current fiscal year.

Keyera Company Profile

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.