Keyera (TSE:KEY) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Keyera Corp. (TSE:KEY - Get Free Report)'s stock price passed 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.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KEY shares. Royal Bank of Canada increased their price target on shares of Keyera from C$44.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Jefferies Financial Group upped their price objective on shares of Keyera from C$43.00 to C$47.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. CIBC upped their price objective on shares of Keyera from C$37.00 to C$39.00 in a research note on Monday, July 15th. ATB Capital upped their price objective on shares of Keyera from C$36.00 to C$39.00 in a research note on Wednesday, July 24th. Finally, Raymond James set a C$47.00 price objective on shares of Keyera and gave the stock an "outperform" rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Keyera presently has a consensus rating of "Moderate Buy" and a consensus target price of C$41.50.

Keyera Stock Down 1.9 %

The firm's 50-day moving average price is C$41.50 and its 200 day moving average price is C$38.34. The company has a market capitalization of C$9.89 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.35 and a beta of 2.09. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 143.51.

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

Keyera Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a $0.52 dividend. This is a positive change from Keyera's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, September 13th. Keyera's dividend payout ratio is currently 139.60%.

Insider Activity

In other 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. 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.