ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Keyera (TSE:KEY) Stock

Keyera (TSE:KEY) had its target price hoisted by investment analysts at ATB Cormark Capital Markets from C$55.00 to C$58.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 2.47% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Scotia lifted their target price 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. TD set a C$68.00 price objective on shares of Keyera and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Citigroup upped their price objective on shares of Keyera from C$51.00 to C$58.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Raymond James Financial decreased their price objective on shares of Keyera from C$67.00 to C$66.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada upped their price objective on shares of Keyera from C$55.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Keyera has a consensus rating of “Moderate Buy” and a consensus target price of C$60.64.

Keyera Stock Performance

TSE KEY traded down C$0.60 during midday trading on Tuesday, hitting C$56.60. The company had a trading volume of 684,666 shares, compared to its average volume of 1,530,922. The company has a quick ratio of 0.57, a current ratio of 1.60 and a debt-to-equity ratio of 249.10. The stock has a market cap of C$12.98 billion, a price-to-earnings ratio of 71.65, a P/E/G ratio of 1.35 and a beta of 0.47. The firm has a fifty day simple moving average of C$54.10 and a two-hundred day simple moving average of C$50.03. Keyera has a fifty-two week low of C$40.09 and a fifty-two week high of C$59.99.

Keyera (TSE:KEY) last posted its quarterly earnings results on Thursday, May 14th. The company reported C($0.53) earnings per share (EPS) for the quarter. The company had revenue of C$1.30 billion during the quarter. Keyera had a return on equity of 6.59% and a net margin of 2.73%. Equities analysts forecast that Keyera will post 2.2166667 earnings per share for the current fiscal 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.