Keyera (TSE:KEY) Releases Earnings Results

Keyera (TSE:KEY) announced its quarterly earnings data on Tuesday. The company reported C($0.23) earnings per share for the quarter, FiscalAI reports. Keyera had a net margin of 5.02% and a return on equity of 10.81%. The firm had revenue of C$2.44 billion during the quarter.

Here are the key takeaways from Keyera’s conference call:

• Plains assets are performing ahead of expectations, with CAD 115 million in run-rate synergies delivered by September against a CAD 120 million–CAD 140 million target for the first 12 months after closing. Management also cited further potential from operating improvements and capital-efficient investments.
• Fee-based businesses remained strong: gathering and processing realized margin was CAD 125 million, while liquids infrastructure posted a record CAD 272 million, supported by acquired assets and strong throughput. A contracted Fort Saskatchewan condensate-system debottleneck is expected to add about 15% capacity early next year.
• Keyera raised its 2026 marketing realized-margin guidance to CAD 400 million–CAD 430 million, citing stronger isooctane and butane contributions and about CAD 50 million of benefits from acquired-inventory and hedge revaluations.
• AEF reliability remains a significant concern. Keyera expects an approximately four-week outage in early January for interim repairs, followed by permanent heat-exchanger replacement in May 2027; full production is expected by the end of that month.
• Net debt to adjusted EBITDA ended the quarter at about 3.6 times, above Keyera’s long-term target range; management expects to return to the range in 2028 as major project spending winds down. The company said major growth projects remain on schedule and at or below budget, and reiterated its targeted fee-based EBITDA-per-share growth through 2029.

Keyera Stock Performance

KEY stock traded down C$0.75 during trading on Tuesday, hitting C$50.35. 842,590 shares of the company traded hands, compared to its average volume of 1,415,911. Keyera has a 1 year low of C$40.09 and a 1 year high of C$61.41. The company has a market cap of C$14.77 billion, a PE ratio of 32.91, a P/E/G ratio of 1.35 and a beta of 0.67. The stock’s 50-day simple moving average is C$54.36 and its 200 day simple moving average is C$54.50. The company has a debt-to-equity ratio of 160.65, a current ratio of 1.22 and a quick ratio of 0.57.

Keyera Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a dividend of $0.5625 per share. This is an increase from Keyera’s previous quarterly dividend of $0.54. This represents a $2.25 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, September 15th. Keyera’s dividend payout ratio (DPR) is 141.18%.

Insider Buying and Selling

In other news, Director Taylor Timothy Kitchen acquired 500 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of C$55.74 per share, with a total value of C$27,870.00. Following the purchase, the director directly owned 7,500 shares of the company’s stock, valued at C$418,050. This trade represents a 7.14% increase in their ownership of the stock. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Keyera from C$102.00 to C$106.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Scotia raised their price target on shares of Keyera from C$88.00 to C$92.00 and gave the stock a “sector perform” rating in a research report on Friday, September 4th. TD decreased their price objective on shares of Keyera from C$70.00 to C$67.00 and set a “buy” rating for the company in a research note on Friday, September 4th. Scotiabank upped their price objective on shares of Keyera from C$65.00 to C$66.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Finally, Stifel Nicolaus raised their target price on shares of Keyera from C$85.00 to C$90.00 and gave the stock a “hold” rating in a report on Friday, September 4th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Keyera has an average rating of “Moderate Buy” and an average price target of C$73.00.

About Keyera

Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.