Keyera (TSE:KEY) Given New C$61.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark lowered its Keyera price target to C$61 from C$63 but maintained a “sector outperform” rating, implying 17.35% upside from the share price cited in the report.
• Analyst sentiment was broadly positive: ten analysts rated the stock Buy and four Hold, for a “Moderate Buy” consensus and an average target of C$73.07.
• Keyera shares traded at C$51.98 on Wednesday. The company reported quarterly revenue of C$2.44 billion and earnings per share of C($0.23).

Keyera (TSE:KEY - Get Free Report) had its price objective decreased by equities research analysts at ATB Cormark Capital Markets from C$63.00 to C$61.00 in a report released on Wednesday, BayStreet reports. The brokerage currently has a "sector outperform" rating on the stock. ATB Cormark Capital Markets's price objective would suggest a potential upside of 17.35% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Desjardins increased their price objective on shares of Keyera from C$103.00 to C$112.00 and gave the company a "buy" rating in a research note on Friday, September 4th. Barclays lifted their target price on shares of Keyera from C$56.00 to C$61.00 in a research report on Friday, August 7th. Royal Bank Of Canada upped their target price on shares of Keyera from C$62.00 to C$66.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Scotia increased their price target on shares of Keyera from C$88.00 to C$92.00 and gave the stock a "sector perform" rating in a research report on Friday, September 4th. Finally, Scotiabank raised their price target on shares of Keyera from C$65.00 to C$66.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 21st. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$73.07.

Keyera Stock Performance

KEY stock traded up C$0.72 during midday trading on Wednesday, hitting C$51.98. The stock had a trading volume of 435,091 shares, compared to its average volume of 1,419,277. The firm has a market capitalization of C$15.25 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 1.35 and a beta of 0.67. Keyera has a 52 week low of C$40.09 and a 52 week high of C$61.41. The stock has a 50-day simple moving average of C$54.18 and a 200 day simple moving average of C$54.54. The company has a current ratio of 1.22, a quick ratio of 0.57 and a debt-to-equity ratio of 160.65.

Keyera (TSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported C($0.23) earnings per share for the quarter. The business had revenue of C$2.44 billion for the quarter. Keyera had a return on equity of 10.81% and a net margin of 5.02%. As a group, equities research analysts anticipate that Keyera will post 2.22 earnings per share for the current year.

Insider Activity at Keyera

In other news, Director Taylor Timothy Kitchen bought 500 shares of Keyera stock in a transaction dated Friday, September 4th. The shares were bought at an average price of C$55.74 per share, for a total transaction of C$27,870.00. Following the purchase, the director owned 7,500 shares of the company's stock, valued at approximately C$418,050. This trade represents a 7.14% increase in their ownership of the stock. Corporate insiders own 0.39% of the company's stock.

About Keyera

Keyera Corp. TSX: KEY operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.

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