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KEY

Keyera TSX:KEY Stock Report

Last Price

CA$32.41

Market Cap

CA$7.2b

7D

3.9%

1Y

4.0%

Updated

13 Aug, 2022

Data

Company Financials +
KEY fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health3/6
Dividends4/6

KEY Stock Overview

Keyera Corp. engages in the energy infrastructure business in Canada.

Keyera Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Keyera
Historical stock prices
Current Share PriceCA$32.41
52 Week HighCA$35.48
52 Week LowCA$26.34
Beta2.33
1 Month Change9.68%
3 Month Change0.093%
1 Year Change4.05%
3 Year Change0.40%
5 Year Change-9.92%
Change since IPO515.58%

Recent News & Updates

Aug 09
Keyera (TSE:KEY) Is Due To Pay A Dividend Of CA$0.16

Keyera (TSE:KEY) Is Due To Pay A Dividend Of CA$0.16

Keyera Corp. ( TSE:KEY ) has announced that it will pay a dividend of CA$0.16 per share on the 15th of September. This...

Aug 06
Growth Investors: Industry Analysts Just Upgraded Their Keyera Corp. (TSE:KEY) Revenue Forecasts By 12%

Growth Investors: Industry Analysts Just Upgraded Their Keyera Corp. (TSE:KEY) Revenue Forecasts By 12%

Keyera Corp. ( TSE:KEY ) shareholders will have a reason to smile today, with the analysts making substantial upgrades...

Shareholder Returns

KEYCA Oil and GasCA Market
7D3.9%4.7%3.0%
1Y4.0%48.4%0.7%

Return vs Industry: KEY underperformed the Canadian Oil and Gas industry which returned 48.4% over the past year.

Return vs Market: KEY exceeded the Canadian Market which returned 0.7% over the past year.

Price Volatility

Is KEY's price volatile compared to industry and market?
KEY volatility
KEY Average Weekly Movement4.1%
Oil and Gas Industry Average Movement11.1%
Market Average Movement10.6%
10% most volatile stocks in CA Market18.9%
10% least volatile stocks in CA Market4.3%

Stable Share Price: KEY is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: KEY's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20031,005C. Setoguchihttps://www.keyera.com

Keyera Corp. engages in the energy infrastructure business in Canada. The company operates through Gathering and Processing, Liquids Infrastructure, and Marketing segments. 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 condensate handling services.

Keyera Fundamentals Summary

How do Keyera's earnings and revenue compare to its market cap?
KEY fundamental statistics
Market CapCA$7.16b
Earnings (TTM)CA$446.59m
Revenue (TTM)CA$6.50b

16.0x

P/E Ratio

1.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KEY income statement (TTM)
RevenueCA$6.50b
Cost of RevenueCA$5.29b
Gross ProfitCA$1.21b
Other ExpensesCA$759.97m
EarningsCA$446.59m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.02
Gross Margin18.56%
Net Profit Margin6.87%
Debt/Equity Ratio134.5%

How did KEY perform over the long term?

See historical performance and comparison

Dividends

5.9%

Current Dividend Yield

95%

Payout Ratio

Does KEY pay a reliable dividends?

See KEY dividend history and benchmarks
When do you need to buy KEY by to receive an upcoming dividend?
Keyera dividend dates
Ex Dividend DateAug 19 2022
Dividend Pay DateSep 15 2022
Days until Ex dividend4 days
Days until Dividend pay date31 days

Does KEY pay a reliable dividends?

See KEY dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is KEY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KEY?

Other financial metrics that can be useful for relative valuation.

KEY key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.7x
Enterprise Value/EBITDA10.2x
PEG Ratio-5x

Price to Earnings Ratio vs Peers

How does KEY's PE Ratio compare to its peers?

KEY PE Ratio vs Peers
The above table shows the PE ratio for KEY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.1x
GEI Gibson Energy
21.6x1.9%CA$3.6b
PPL Pembina Pipeline
18.6x1.8%CA$26.6b
TRP TC Energy
21x15.5%CA$66.1b
ENB Enbridge
23x13.2%CA$112.5b
KEY Keyera
16x-3.2%CA$7.2b

Price-To-Earnings vs Peers: KEY is good value based on its Price-To-Earnings Ratio (16x) compared to the peer average (21.1x).


Price to Earnings Ratio vs Industry

How does KEY's PE Ratio compare vs other companies in the CA Oil and Gas Industry?

Price-To-Earnings vs Industry: KEY is expensive based on its Price-To-Earnings Ratio (16x) compared to the Canadian Oil and Gas industry average (5.8x)


Price to Earnings Ratio vs Fair Ratio

What is KEY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KEY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16x
Fair PE Ratio12.1x

Price-To-Earnings vs Fair Ratio: KEY is expensive based on its Price-To-Earnings Ratio (16x) compared to the estimated Fair Price-To-Earnings Ratio (12.1x).


Share Price vs Fair Value

What is the Fair Price of KEY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KEY (CA$32.41) is trading below our estimate of fair value (CA$43.2)

Significantly Below Fair Value: KEY is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


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Future Growth

How is Keyera forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-3.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KEY's earnings are forecast to decline over the next 3 years (-3.2% per year).

Earnings vs Market: KEY's earnings are forecast to decline over the next 3 years (-3.2% per year).

High Growth Earnings: KEY's earnings are forecast to decline over the next 3 years.

Revenue vs Market: KEY's revenue is expected to decline over the next 3 years (-0.09% per year).

High Growth Revenue: KEY's revenue is forecast to decline over the next 3 years (-0.09% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KEY's Return on Equity is forecast to be low in 3 years time (16.4%).


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Past Performance

How has Keyera performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-4.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KEY has high quality earnings.

Growing Profit Margin: KEY's current net profit margins (6.9%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: KEY's earnings have declined by 4.1% per year over the past 5 years.

Accelerating Growth: KEY's earnings growth over the past year (262.8%) exceeds its 5-year average (-4.1% per year).

Earnings vs Industry: KEY earnings growth over the past year (262.8%) exceeded the Oil and Gas industry 151%.


Return on Equity

High ROE: KEY's Return on Equity (16.3%) is considered low.


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Financial Health

How is Keyera's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: KEY's short term assets (CA$1.3B) exceed its short term liabilities (CA$1.1B).

Long Term Liabilities: KEY's short term assets (CA$1.3B) do not cover its long term liabilities (CA$4.7B).


Debt to Equity History and Analysis

Debt Level: KEY's net debt to equity ratio (126.5%) is considered high.

Reducing Debt: KEY's debt to equity ratio has increased from 95.3% to 134.5% over the past 5 years.

Debt Coverage: KEY's debt is well covered by operating cash flow (23.3%).

Interest Coverage: KEY's interest payments on its debt are well covered by EBIT (5.5x coverage).


Balance Sheet


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Dividend

What is Keyera current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.92%

Current Dividend Yield

Upcoming Dividend Payment

TodayAug 14 2022Ex Dividend DateAug 19 2022Dividend Pay DateSep 15 202227 days from Ex DividendBuy in the next 4 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: KEY's dividend (5.92%) is higher than the bottom 25% of dividend payers in the Canadian market (1.82%).

High Dividend: KEY's dividend (5.92%) is in the top 25% of dividend payers in the Canadian market (5.31%)


Stability and Growth of Payments

Stable Dividend: KEY's dividends per share have been stable in the past 10 years.

Growing Dividend: KEY's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (95%), KEY's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (893%), KEY's dividend payments are not well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

C. Setoguchi (55 yo)

2.5yrs

Tenure

CA$4,523,213

Compensation

Mr. C. Dean Setoguchi has been Chief Executive Officer and Director at Keyera Corp. since January 1, 2021. Mr. Setoguchi serves as President of Keyera Corporation since February 2020 and served as its Chie...


CEO Compensation Analysis

Compensation vs Market: C.'s total compensation ($USD3.54M) is about average for companies of similar size in the Canadian market ($USD4.53M).

Compensation vs Earnings: C.'s compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: KEY's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: KEY's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Keyera Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Keyera Corp.
  • Ticker: KEY
  • Exchange: TSX
  • Founded: 2003
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Implied Market Cap: CA$7.163b
  • Shares outstanding: 221.02m
  • Website: https://www.keyera.com

Number of Employees


Location

  • Keyera Corp.
  • The Ampersand
  • West Tower 200
  • Calgary
  • Alberta
  • T2P 3N4
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/13 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.