I hold a small investment in Keyera (170 shares). It has grown from $35 to $96 today. I am an 82-year-old pensioner. What is your advice on this stock? Thanks.
Keyera Corp. $97.75, symbol KEY on Toronto (Shares outstanding: 83.9 million; Market cap: $8.2 billion; www.keyera.com), provides a number of services to the oil and gas industry, including gathering, processing, storage and transportation.
In the three months ended June 30, 2014, the company reported cash flow of $1.04 a share, up 3.0% from $1.01 a year earlier.
Keyera raised its monthly dividend by 7.5%, to $0.215 a share from $0.20, beginning with the June 2014 payment. The stock now yields 2.6%.
The company has a number of growth projects underway. It recently took on a 30% interest in Enbridge’s Norlite pipeline, which will deliver condensate from Fort Saskatchewan to the Athabasca oil sands. That will give the area’s producers the condensate they need to dilute the bitumen they produce so that it will flow through pipelines. Norlite’s estimated total cost is about $1.4 billion.
Meanwhile, Keyera is building a rail-loading terminal for crude oil in Edmonton under a 50/50 joint venture with Kinder Morgan…
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