Keyera (TSE:KEY) Given New C$92.00 Price Target at Scotia

Key Points

• Scotia raised Keyera’s price target to C$92 from C$88 while maintaining a “sector perform” rating, implying 64.7% upside from the reported C$55.86 share price.
• Analyst sentiment is broadly positive: 11 analysts rate Keyera a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$73.00.
• Keyera reported quarterly EPS of C$1.19 on revenue of C$2.40 billion. Shares declined C$2.61 to C$55.86 in Friday trading, near the company’s C$55.61 200-day moving average.

Keyera (TSE:KEY - Get Free Report) had its price objective hoisted by equities research analysts at Scotia from C$88.00 to C$92.00 in a note issued to investors on Friday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. Scotia's target price would indicate a potential upside of 64.70% from the company's current price.

A number of other brokerages have also recently commented on KEY. Citigroup raised their price target on Keyera from C$102.00 to C$106.00 and gave the stock a "buy" rating in a research report on Friday. TD lowered their price target on shares of Keyera from C$70.00 to C$67.00 and set a "buy" rating for the company in a report on Friday. Jefferies Financial Group set a C$65.00 target price on shares of Keyera and gave the stock a "buy" rating in a research report on Tuesday, May 19th. Canadian Imperial Bank of Commerce upped their price objective on shares of Keyera from C$63.00 to C$65.00 in a research note on Tuesday, June 16th. Finally, Raymond James Financial cut their price target on Keyera from C$66.00 to C$65.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Keyera presently has an average rating of "Moderate Buy" and a consensus price target of C$73.00.

Keyera Price Performance

Shares of TSE KEY traded down C$2.61 during trading on Friday, reaching C$55.86. The company had a trading volume of 1,422,248 shares, compared to its average volume of 1,434,421. The business's 50 day moving average price is C$58.76 and its 200-day moving average price is C$55.61. The company has a debt-to-equity ratio of 160.65, a quick ratio of 0.57 and a current ratio of 1.22. The stock has a market cap of C$16.39 billion, a PE ratio of 36.51, a PEG ratio of 1.35 and a beta of 0.48. Keyera has a 52 week low of C$40.09 and a 52 week high of C$61.41.

Keyera (TSE:KEY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. The company had revenue of C$2.40 billion for the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. Analysts expect that Keyera will post 2.2166667 earnings per share for the current year.

Keyera Company Profile

Keyera is a midstream energy business that operates primarily out of Alberta, Canada. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for NGLS and crude oil, and the marketing of NGLs, iso-octane, and crude oil. The firm currently has interests in about a dozen active gas plants and operates over 4,000 km of pipelines.

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