Skip to Content

Keyera Corp KEY

Morningstar Rating
CAD 34.69 −0.28 (0.80%)
View Full Chart
Unlock our analysis with Morningstar Investor

Company Report

Keyera Looks Set For Higher Volumes With KAPS in Service

Keyera stands to benefit from an integrated business model with significant potential to grow via the Key Access Pipeline System, which has come online in early 2023. The pipeline will connect the firm’s northern plants to its Fort Saskatchewan liquids hubs and will consist of pipelines for condensate and natural gas liquids mix. By increasing its proportion of long-term contracts and maximizing utilization rates across facilities, Keyera is positioned to take advantage of more stable cash flows in the future while capitalizing on Canadian oil sands, natural gas, and NGL growth.

Price vs Fair Value

KEY is trading at a 2% premium.
Price
CAD 34.69
Fair Value
CAD 42.00
Uncertainty
Medium
1-Star Price
CAD 49.40
5-Star Price
CAD 21.30
Economic Moat
Xmhy
Capital Allocation
Nvszclzc

Bulls Say, Bears Say

Bulls

Keyera has a strong dividend profile with a dividend payout ratio targeted at 50%-70% of distributable cash flow.

Bears

New pipeline projects similar to KAPS may face regulatory headwinds, limiting potential growth opportunities for Keyera.

Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if KEY is a good fit for your portfolio.

Trading Information

Previous Close Price
CAD 34.97
Day Range
CAD 34.4335.47
52-Week Range
CAD 29.3135.72
Bid/Ask
CAD 34.60 / CAD 34.80
Market Cap
CAD 7.95 Bil
Volume/Avg
903,524 / 960,057

Key Statistics

Price/Earnings (Normalized)
14.15
Price/Sales
1.13
Dividend Yield (Trailing)
5.65%
Dividend Yield (Forward)
5.71%
Total Yield
5.70%

Company Profile

Keyera is a midstream energy business that operates primarily out of Alberta. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for natural gas liquids 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 kilometers of pipelines.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Mid Core
Total Number of Employees
1,155

Competitors

Valuation

Metric
KEY
TRP
ENB
Price/Earnings (Normalized)
14.1512.0917.07
Price/Book Value
2.861.951.82
Price/Sales
1.133.352.25
Price/Cash Flow
7.757.558.26
Price/Earnings
KEY
TRP
ENB

Financial Strength

Metric
KEY
TRP
ENB
Quick Ratio
0.890.680.62
Current Ratio
1.340.960.83
Interest Coverage
3.662.463.04
Quick Ratio
KEY
TRP
ENB

Profitability

Metric
KEY
TRP
ENB
Return on Assets (Normalized)
6.52%3.89%3.23%
Return on Equity (Normalized)
20.23%15.19%10.46%
Return on Invested Capital (Normalized)
10.39%6.59%6.00%
Return on Assets
KEY
TRP
ENB
See how this stock stacks up to its competitors with Morningstar Investor

Oil & Gas Midstream Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ENB
Enbridge IncKyrbfpfLvwzl$73.4 Bil
EPD
Enterprise Products Partners LPCfkcbdlyqPxt$63.4 Bil
ET
Energy Transfer LPQsdrLwpgb$51.9 Bil
OKE
ONEOK IncRthgcbpQsgpfkr$46.6 Bil
WMB
Williams Companies IncFvrvdgvlChlfkq$46.4 Bil
MPLX
MPLX LP Partnership UnitsZdzrfyxgmCtljpn$41.8 Bil
KMI
Kinder Morgan Inc Class PJyxclcsgKvkbt$41.0 Bil
TRP
TC Energy CorpYrdtghyzJsfmq$37.7 Bil
LNG
Cheniere Energy IncWbrscvfpTss$36.8 Bil
TRGP
Targa Resources CorpFphgrpyLhzbq$25.5 Bil

Sponsor Center