Keyera (TSE:KEY) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Keyera Corp. (TSE:KEY)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$38.28 and traded as high as C$44.27. Keyera shares last traded at C$43.97, with a volume of 468,341 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KEY. Citigroup increased their price target on Keyera from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their target price on shares of Keyera from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group boosted their price target on shares of Keyera from C$43.00 to C$47.00 and gave the company a “buy” rating in a report on Monday, September 30th. CIBC raised their price objective on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. Finally, BMO Capital Markets lifted their price objective on shares of Keyera from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$41.50.

Keyera Trading Down 0.7 %

The firm has a market capitalization of C$9.82 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.35 and a beta of 2.09. The company has a debt-to-equity ratio of 143.51, a current ratio of 1.30 and a quick ratio of 0.57. The company has a fifty day moving average of C$41.58 and a 200-day moving average of C$38.39.

Keyera (TSE:KEY) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.62 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.54 by C$0.08. The company had revenue of C$1.72 billion during the quarter. Keyera had a return on equity of 12.02% and a net margin of 4.86%. On average, sell-side analysts anticipate that Keyera Corp. 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. Shareholders of record on Friday, September 27th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.86%. This is an increase from Keyera’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, September 13th. Keyera’s payout ratio is currently 139.60%.

Insider Activity

In related news, Senior Officer Eileen Marikar sold 1,888 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$39.70, for a total value of C$74,953.79. 0.39% of the stock is owned by insiders.

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.