Keyera (TSE:KEY) Given New C$62.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets lowered its Keyera price target from C$63 to C$62 and maintained a “market perform” rating; the new target implies 19.28% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of C$73.07, with 10 Buy and four Hold ratings.
• Keyera shares rose C$0.72 to C$51.98 in Wednesday midday trading.

Keyera (TSE:KEY - Get Free Report) had its price objective dropped by analysts at BMO Capital Markets from C$63.00 to C$62.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets's price objective suggests a potential upside of 19.28% from the stock's previous close.

Other analysts have also issued reports about the company. Scotia lifted their price target on Keyera from C$88.00 to C$92.00 and gave the stock a "sector perform" rating in a research note on Friday, September 4th. Scotiabank increased their price objective on Keyera from C$65.00 to C$66.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 21st. Desjardins raised their price objective on Keyera from C$103.00 to C$112.00 and gave the company a "buy" rating in a report on Friday, September 4th. TD lowered their target price on shares of Keyera from C$70.00 to C$67.00 and set a "buy" rating on the stock in a research note on Friday, September 4th. Finally, Stifel Nicolaus lifted their target price on shares of Keyera from C$85.00 to C$90.00 and gave the stock a "hold" rating in a research note on Friday, September 4th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Keyera currently has an average rating of "Moderate Buy" and a consensus price target of C$73.07.

Keyera Price Performance

Keyera stock traded up C$0.72 during midday trading on Wednesday, reaching C$51.98. The company had a trading volume of 435,091 shares, compared to its average volume of 1,419,277. The company has a market capitalization of C$15.25 billion, a P/E ratio of 33.97, a P/E/G ratio of 1.35 and a beta of 0.67. Keyera has a 12-month low of C$40.09 and a 12-month high of C$61.41. The firm's fifty day simple moving average is C$54.18 and its 200-day simple moving average is C$54.54. The company has a debt-to-equity ratio of 160.65, a current ratio of 1.22 and a quick ratio of 0.57.

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

Insider Activity at Keyera

In related news, Director Taylor Timothy Kitchen acquired 500 shares of Keyera stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average price of C$55.74 per share, for a total transaction of C$27,870.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at C$418,050. This represents a 7.14% increase in their position. 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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