Keyera (TSE:KEY) Rating Increased to Moderate Buy at Raymond James

Raymond James upgraded shares of Keyera (TSE:KEY) to a moderate buy rating in a research report sent to investors on Thursday, Zacks.com reports.

A number of other brokerages have also weighed in on KEY. Royal Bank of Canada increased their price target on Keyera from C$44.00 to C$45.00 and gave the stock an outperform rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price target on Keyera from C$40.00 to C$41.00 and gave the stock a hold rating in a research note on Thursday, September 5th. National Bankshares increased their price target on Keyera from C$36.00 to C$38.00 and gave the stock a sector perform rating in a research note on Friday, August 23rd. Scotiabank increased their price target on Keyera from C$40.00 to C$42.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, Citigroup increased their target price on Keyera from C$40.00 to C$46.00 and gave the stock a buy rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$41.50.

Keyera Price Performance

KEY stock opened at C$43.94 on Thursday. Keyera has a 1 year low of C$31.16 and a 1 year high of C$44.56. The company has a debt-to-equity ratio of 143.51, a quick ratio of 0.57 and a current ratio of 1.30. The stock’s 50 day moving average price is C$40.83 and its 200 day moving average price is C$37.93. The firm has a market cap of C$10.07 billion, a P/E ratio of 29.49, a PEG ratio of 1.35 and a beta of 2.09.

Keyera (TSE:KEY) last posted its earnings results on Thursday, August 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.54 by C$0.08. Keyera had a return on equity of 12.02% and a net margin of 4.86%. The firm had revenue of C$1.72 billion for the quarter. On average, sell-side analysts expect that Keyera will post 2.2166667 earnings per share for the current fiscal year.

Keyera Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, September 13th. This is an increase from Keyera’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.73%. Keyera’s dividend payout ratio (DPR) is currently 139.60%.

Insider Activity

In other news, Senior Officer Eileen Marikar sold 1,888 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$39.70, for a total transaction of C$74,953.79. Insiders own 0.39% of the company’s stock.

Keyera Company Profile

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products, and separate the economic components primarily natural gas liquids; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.