Scotiabank Issues Positive Forecast for Keyera (TSE:KEY) Stock Price

Key Points

• Scotiabank raised its target price on Keyera to C$66 from C$65 and kept a sector outperform rating, implying about 11.68% upside from the current share price.
• Other analysts have also been optimistic, with multiple firms lifting targets and the stock carrying a consensus rating of Moderate Buy and an average target price of C$60.93.
• Keyera shares were nearly flat at C$59.10, while the company recently reported C($0.53) EPS on C$1.30 billion in quarterly revenue and continues to operate as a Canadian midstream energy business.

Keyera (TSE:KEY - Get Free Report) had its target price raised by equities research analysts at Scotiabank from C$65.00 to C$66.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 11.68% from the stock's current price.

KEY has been the topic of several other research reports. Canadian Imperial Bank of Commerce upped their target price on shares of Keyera from C$63.00 to C$65.00 in a research note on Tuesday, June 16th. Barclays boosted their price objective on shares of Keyera from C$53.00 to C$56.00 in a report on Wednesday, July 15th. Raymond James Financial lowered their price objective on shares of Keyera from C$66.00 to C$65.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Royal Bank Of Canada raised their target price on shares of Keyera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a report on Tuesday, June 16th. Finally, ATB Cormark Capital Markets lifted their target price on shares of Keyera from C$55.00 to C$58.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$60.93.

Keyera Stock Up 0.1%

KEY stock traded up C$0.05 during midday trading on Tuesday, hitting C$59.10. The company's stock had a trading volume of 184,961 shares, compared to its average volume of 1,501,555. Keyera has a 12 month low of C$40.09 and a 12 month high of C$60.30. The firm's 50-day moving average is C$57.44 and its 200-day moving average is C$52.38. The company has a current ratio of 1.60, a quick ratio of 0.57 and a debt-to-equity ratio of 249.10. The company has a market cap of C$17.34 billion, a PE ratio of 74.81, a P/E/G ratio of 1.35 and a beta of 0.49.

Keyera (TSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported C($0.53) EPS for the quarter. Keyera had a net margin of 2.73% and a return on equity of 6.59%. The business had revenue of C$1.30 billion for the quarter. On average, equities research analysts forecast that Keyera will post 2.2166667 earnings per share for the current fiscal 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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