Keyera Corp T.KEY

Alternate Symbol(s): KEYUF

Energy Oil & Gas Midstream

Keyera Corp. is a Canada-based company, which operates an integrated energy infrastructure business. The Company operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment includes raw gas gathering systems and processing plants located in natural gas production areas primarily on the western side of the Western Canada Sedimentary Basin. The operations primarily involve providing natural gas gathering and processing, including liquids extraction and condensate stabilization services to customers. This segment also includes sales of ethane volumes. The Liquids Infrastructure segment provides fractionation, storage, transportation and terminalling services for natural gas liquids (NGLs) and crude oil. The Marketing segment is primarily involved in the marketing of NGLs, such as propane, butane, and condensate; and iso-octane to customers in Canada and the United States, as well as liquids blending.

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Keyera Corp > Q1- What it all means

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Post by hawk35on May 10, 2022 7:00pm

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Post# 34672308

Q1- What it all means

Q1 was a good quarter for Keyera.

. Payout ratio was 62% (Management target is 50% to 70%)
. Debt to ebitda ratio was 2.5x (Management target is 2.5x - 3x)
. 2022 Marketing outlook raised to $300m - $340m (from $250m - $280m)
. 2023 and 2025 Marketing outlook raised to $250m - $280m (from $180m - $220m)
. KAPS is 70% completed (risk of increased cost is falling)

What it means? In 2023, revenue will increase from Marketing and KAPS. Extra cash means debt will fall very quickly. They will easily afford the next phase of KAPS and a dividend increase. Whats not to like here?

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