Keyera (TSE:KEY) Announces Earnings Results

Keyera (TSE:KEY) released its quarterly earnings results on Thursday. The company reported C$0.39 earnings per share (EPS) for the quarter, FiscalAI reports. Keyera had a return on equity of 16.05% and a net margin of 5.97%.The business had revenue of C$1.70 billion during the quarter.

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

• Keyera announced the transformational acquisition of Plains’ Canadian NGL business, expected to close around the end of Q1 2026 and expand its national platform and integrated value chain to support long‑term growth.
• Management reported record 2025 results in its fee‑for‑service segments and reiterated a 7%–8% fee‑for‑service EBITDA growth outlook to 2027, supported by highly contracted sanctioned projects (two Frac expansions at KFS and KAPS Zone 4).
• The Marketing segment underperformed with realized margin of CAD 300 million in 2025 versus CAD 485 million in 2024, and management warned marketing results remain contingent on market conditions.
• An unplanned outage at the AEF facility will weigh on near‑term production and reduce 2026 marketing guidance by approximately CAD 110 million; repairs are underway with full production expected in May.
• 2026 guidance calls for growth capital CAD 400–475 million, maintenance CAD 140–160 million and cash taxes CAD 60–70 million, while management emphasizes a conservative dividend payout, deleveraging to the low end of targets and reinvesting in fee‑based growth.

Keyera Stock Up 1.6%

TSE:KEY traded up C$0.82 during mid-day trading on Friday, hitting C$51.85. 979,862 shares of the company’s stock traded hands, compared to its average volume of 1,296,714. Keyera has a twelve month low of C$37.80 and a twelve month high of C$52.13. The company has a market capitalization of C$11.89 billion, a P/E ratio of 27.73, a P/E/G ratio of 1.35 and a beta of 0.58. The company has a debt-to-equity ratio of 137.59, a quick ratio of 0.57 and a current ratio of 1.31. The company has a fifty day moving average of C$44.82 and a 200 day moving average of C$44.33.

Keyera Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, December 15th. Keyera’s payout ratio is 112.30%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research analyst reports. National Bank Financial lowered their price target on Keyera from C$48.00 to C$46.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. TD Securities boosted their target price on shares of Keyera from C$52.00 to C$56.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their target price on shares of Keyera from C$43.00 to C$48.00 in a research note on Friday. Finally, BMO Capital Markets decreased their price target on shares of Keyera from C$54.00 to C$51.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$51.82.

Keyera Company Profile

Keyera is a midstream energy business that operates primarily out of Alberta, Canada. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for NGLS and crude oil, and the marketing of NGLs, iso-octane, and crude oil. The firm currently has interests in about a dozen active gas plants and operates over 4,000 km of pipelines.