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

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

KEY has been the subject of a number of other research reports. ATB Capital increased their price objective on Keyera from C$36.00 to C$39.00 in a research note on Wednesday, July 24th. Citigroup increased their price target on shares of Keyera from C$40.00 to C$46.00 and gave the company a buy rating in a research report on Monday, September 23rd. BMO Capital Markets boosted their price objective on shares of Keyera from C$40.00 to C$41.00 and gave the company a hold rating in a research report on Thursday, September 5th. Jefferies Financial Group increased their target price on shares of Keyera from C$43.00 to C$47.00 and gave the stock a buy rating in a report on Monday, September 30th. Finally, Scotiabank boosted their price target on Keyera from C$40.00 to C$42.00 and gave the company an outperform rating in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Keyera presently has an average rating of Moderate Buy and an average target price of C$41.50.

Keyera Price Performance

KEY stock opened at C$43.94 on Thursday. 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 firm has a market cap of C$10.07 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.35 and a beta of 2.09. The firm’s fifty day moving average is C$40.83 and its 200 day moving average is C$37.93. Keyera has a 52 week low of C$31.16 and a 52 week high of C$44.56.

Keyera (TSE:KEY) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.62 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 firm had revenue of C$1.72 billion for the quarter. Research analysts predict that Keyera will post 2.2166667 earnings per share for the current year.

Keyera Increases Dividend

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

Insider Transactions at Keyera

In other news, Senior Officer Eileen Marikar sold 1,888 shares of the business’s stock in a transaction that occurred 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. 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.