Keyera (TSE:KEY) Given New C$46.00 Price Target at Royal Bank of Canada

Keyera (TSE:KEY) had its price objective hoisted by Royal Bank of Canada from C$45.00 to C$46.00 in a research note released on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also issued reports on KEY. Citigroup raised their price objective on Keyera from C$46.00 to C$50.00 in a research note on Monday, November 18th. Jefferies Financial Group raised their price objective on Keyera from C$43.00 to C$47.00 and gave the company a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their price objective on Keyera from C$41.00 to C$44.00 in a research note on Friday, November 15th. Raymond James raised their price objective on Keyera from C$47.00 to C$48.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Scotiabank raised their price target on Keyera from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Keyera has a consensus rating of “Moderate Buy” and a consensus target price of C$43.62.

Keyera Price Performance

TSE:KEY opened at C$43.42 on Wednesday. The firm has a market capitalization of C$9.95 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.35 and a beta of 2.09. Keyera has a 1 year low of C$31.16 and a 1 year high of C$47.90. The business has a 50 day simple moving average of C$44.41 and a 200-day simple moving average of C$40.73. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57.

Keyera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.79%. Keyera’s dividend payout ratio (DPR) is presently 139.60%.

Insider Activity

In other news, Director James Vance Bertram sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of C$46.38, for a total value of C$2,318,750.00. Insiders own 0.39% of the company’s stock.

About Keyera

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.