National Bank Financial Has Lowered Expectations for Keyera (TSE:KEY) Stock Price

Key Points

• National Bank Financial cut its Keyera price target from C$63 to C$62 but maintained an “outperform” rating, implying about 19.3% upside from the current share price.
• Analyst views remain broadly positive: 10 analysts rate the stock Buy and four Hold, for an overall “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 a loss of C$0.23 per share.

Keyera (TSE:KEY - Get Free Report) had its price target dropped by analysts at National Bank Financial from C$63.00 to C$62.00 in a research report issued on Wednesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 19.28% from the stock's current price.

A number of other research firms have also recently issued reports on KEY. Scotiabank upped their price objective on Keyera from C$65.00 to C$66.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 21st. ATB Cormark Capital Markets reduced their price objective on Keyera from C$63.00 to C$61.00 and set a "sector outperform" rating on the stock in a research report on Wednesday. TD decreased their price objective on Keyera from C$70.00 to C$67.00 and set a "buy" rating on the stock in a report on Friday, September 4th. Stifel Nicolaus boosted their target price on Keyera from C$85.00 to C$90.00 and gave the stock a "hold" rating in a research report on Friday, September 4th. Finally, Citigroup upped their target price on Keyera from C$102.00 to C$106.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Ten research 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 has an average rating of "Moderate Buy" and an average price target of C$73.07.

Keyera Price Performance

Shares of Keyera stock traded up C$0.72 on Wednesday, hitting C$51.98. 435,091 shares of the company traded hands, compared to its average volume of 1,419,277. The firm's 50-day simple moving average is C$54.18 and its 200 day simple moving average is 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. The company has a market cap 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.

Keyera (TSE:KEY - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported C($0.23) earnings per share (EPS) for the quarter. The company had revenue of C$2.44 billion during the quarter. Keyera had a return on equity of 10.81% and a net margin of 5.02%. Analysts expect that Keyera will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at Keyera

In other Keyera news, Director Taylor Timothy Kitchen purchased 500 shares of the stock in a transaction on Friday, September 4th. The stock was acquired at an average price of C$55.74 per share, with a total value of C$27,870.00. Following the transaction, the director directly owned 7,500 shares of the company's stock, valued at approximately C$418,050. This trade represents a 7.14% increase in their position. 0.39% of the stock is currently owned by corporate insiders.

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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