Keyera (TSE:KEY) Announces Quarterly Earnings Results

Keyera (TSE:KEY) released its earnings results on Thursday. The company reported C$0.39 EPS for the quarter, FiscalAI reports. Keyera had a return on equity of 16.05% and a net margin of 5.97%.The company had revenue of C$1.70 billion for 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 Trading Up 4.0%

Keyera stock opened at C$51.03 on Friday. Keyera has a 52-week low of C$37.80 and a 52-week high of C$51.19. The company has a quick ratio of 0.57, a current ratio of 1.31 and a debt-to-equity ratio of 137.59. The firm has a market capitalization of C$11.70 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.35 and a beta of 0.58. The firm has a 50-day moving average price of C$44.69 and a two-hundred day moving average price of C$44.27.

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 given a $0.54 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.16 annualized dividend and a yield of 4.2%. Keyera’s dividend payout ratio (DPR) is currently 112.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KEY shares. Barclays reduced their price objective on Keyera from C$45.00 to C$43.00 in a research note on Thursday, January 8th. TD Securities reduced their price target on shares of Keyera from C$54.00 to C$52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. National Bank Financial decreased their price target on shares of Keyera from C$48.00 to C$46.00 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Finally, BMO Capital Markets dropped their price objective 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$51.00.

About Keyera

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.