Raymond James Has Positive Outlook of Keyera FY2024 Earnings

Keyera Corp. (TSE:KEY) – Equities research analysts at Raymond James lifted their FY2024 earnings per share estimates for shares of Keyera in a note issued to investors on Thursday, November 14th. Raymond James analyst M. Barth now expects that the company will post earnings of $2.19 per share for the year, up from their previous estimate of $2.04. Raymond James currently has a “Moderate Buy” rating on the stock. The consensus estimate for Keyera’s current full-year earnings is $2.22 per share. Raymond James also issued estimates for Keyera’s FY2025 earnings at $2.14 EPS and FY2026 earnings at $2.40 EPS.

A number of other research analysts also recently weighed in on KEY. Citigroup upped their price objective on shares of Keyera from C$40.00 to C$46.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. ATB Capital increased their price objective on shares of Keyera from C$43.00 to C$44.00 in a report on Friday. BMO Capital Markets upped their price target on shares of Keyera from C$41.00 to C$44.00 in a research report on Friday. National Bankshares increased their target price on Keyera from C$38.00 to C$39.00 in a report on Friday. Finally, Royal Bank of Canada lifted their price target on Keyera from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$42.25.

Keyera Trading Up 1.4 %

TSE KEY opened at C$45.11 on Monday. The stock has a market cap of C$10.34 billion, a P/E ratio of 30.28, a P/E/G 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. The company has a fifty day simple moving average of C$42.78 and a two-hundred day simple moving average of C$39.39. Keyera has a 12-month low of C$31.16 and a 12-month high of C$45.51.

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. This represents a $2.08 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Keyera’s previous quarterly dividend of $0.50. Keyera’s payout ratio is 139.60%.

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.