Barclays Forecasts Strong Price Appreciation for Keyera (TSE:KEY) Stock

Key Points

• Barclays raised its price target for Keyera from C$56 to C$61, implying 6.16% upside from the prior close. The analyst maintains a positive outlook on the stock.
• Keyera has broad analyst support, with 11 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of C$61.29.
• Shares fell 2.3% to C$57.46 in Friday trading. Keyera reported C$1.19 in quarterly EPS and C$2.40 billion in revenue, while analysts forecast full-year EPS of approximately C$2.22.

Keyera (TSE:KEY - Get Free Report) had its target price raised by equities research analysts at Barclays from C$56.00 to C$61.00 in a report issued on Friday,BayStreet.CA reports. Barclays's price target suggests a potential upside of 6.16% from the company's previous close.

A number of other research analysts also recently weighed in on KEY. TD set a C$68.00 price objective on Keyera and gave the company a "buy" rating in a research note on Tuesday, June 9th. National Bank Financial upped their target price on Keyera from C$61.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada increased their price target on Keyera from C$60.00 to C$62.00 and gave the company an "outperform" rating in a report on Tuesday, June 16th. Scotia lifted their price target on shares of Keyera from C$55.00 to C$60.00 and gave the company a "sector outperform" rating in a research report on Friday, May 15th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of Keyera from C$55.00 to C$58.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$61.29.

Keyera Stock Down 2.3%

TSE:KEY traded down C$1.33 during trading hours on Friday, reaching C$57.46. The company's stock had a trading volume of 443,163 shares, compared to its average volume of 1,476,522. The company has a debt-to-equity ratio of 249.10, a current ratio of 1.60 and a quick ratio of 0.57. The company has a market cap of C$16.86 billion, a price-to-earnings ratio of 72.73, a price-to-earnings-growth ratio of 1.35 and a beta of 0.48. Keyera has a one year low of C$40.09 and a one year high of C$61.41. The business's 50-day moving average is C$58.15 and its 200-day moving average is C$53.86.

Keyera (TSE:KEY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share for the quarter. Keyera had a return on equity of 6.59% and a net margin of 2.73%.The company had revenue of C$2.40 billion for the quarter. Equities research analysts predict that Keyera will post 2.2166667 EPS for the current year.

About Keyera

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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