Keyera Co.

Keyera has bought the remaining 50% of the KAPS pipeline from Stonepeak for $1.215 billion and now owns 100% of the NGL pipeline system that links Montney and Duvernay to downstream markets. Construction of KAPS Zone 4 is on schedule and on budget, with planned in‑service mid‑2027; Keyera expects the acquisition to add a low single‑digit percentage to distributable cash flow per share over the next few years and to raise the fee‑based adjusted EBITDA growth target for 2025–2027 to 16–18%. The transaction is being financed by a $525 million bought‑deal offering and credit facilities; KAPS is backed by long‑term contracts (average remaining term ~12 years, 75% take‑or‑pay); net debt/EBITDA is expected to be within the 2.5x–3.0x target range by 2028. » More on de.investing.com

Keyera reported Q1 2026 EPS of −$0.53 versus an expectation of $0.24, thus missing the forecast significantly. Revenue rose to $1.59 billion, beating estimates by 43%, accompanied by a record CAD 118 million margin in gas gathering and processing. The acquisition of Plains’ NGL business strengthens the integrated platform and market position, which helped the stock rise 2.44% despite the earnings decline and leaves the company well positioned for further revenue growth. » More on de.investing.com

Keyera shares fell 6.3%, the largest drop since 2021, after Canada’s Competition Bureau filed an application with the Competition Tribunal seeking to prevent Plains All American Pipeline’s acquisition of the Canadian liquefied gas business. The authority cited concerns that the transaction would harm competition in processing and storage of liquefied gas, particularly in Fort Saskatchewan, Alberta. A technical briefing by the Competition Bureau is planned to explain the details of the objections and the merger-control process. » More on de.investing.com