Keyera (TSE:KEY) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Keyera Corp. (TSE:KEY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$38.66 and traded as high as C$42.94. Keyera shares last traded at C$42.76, with a volume of 927,654 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KEY. CIBC increased their price objective on Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. ATB Capital boosted their target price on Keyera from C$36.00 to C$39.00 in a report on Wednesday, July 24th. National Bankshares lifted their target price on Keyera from C$36.00 to C$38.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets boosted their target price on shares of Keyera from C$40.00 to C$41.00 and gave the company a “hold” rating in a research note on Thursday, September 5th. Finally, Scotiabank increased their price objective on shares of Keyera from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Keyera currently has an average rating of “Moderate Buy” and an average price target of C$41.50.

Keyera Stock Performance

The stock has a market cap of C$9.84 billion, a P/E ratio of 28.83, a PEG ratio of 1.35 and a beta of 2.09. The firm’s 50-day moving average price is C$42.01 and its 200-day moving average price is C$38.77. 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 (TSE:KEY) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of C$1.72 billion for the quarter. Sell-side analysts expect that Keyera Corp. will post 2.2166667 earnings per share for the current fiscal year.

Keyera Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.52 dividend. 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 dividend on an annualized basis and a yield of 4.84%. Keyera’s dividend payout ratio (DPR) is currently 139.60%.

Insider Activity at Keyera

In other Keyera news, Senior Officer Eileen Marikar sold 1,888 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$39.70, for a total value of C$74,953.79. 0.39% of the stock is currently 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.