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

Keyera (TSE:KEY) had its price objective increased by stock analysts at ATB Cormark Capital Markets from C$55.00 to C$58.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential upside of 2.47% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup raised 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. Scotiabank raised their price objective on shares of Keyera from C$60.00 to C$65.00 in a research note on Tuesday. Scotia raised their price objective on shares of Keyera from C$55.00 to C$60.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce raised their price objective on shares of Keyera from C$63.00 to C$65.00 in a research note on Tuesday. Finally, National Bank Financial raised their price objective on shares of Keyera from C$50.00 to C$56.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$60.64.

Keyera Price Performance

TSE:KEY traded down C$0.60 during trading hours on Tuesday, reaching C$56.60. 684,666 shares of the company’s stock were exchanged, compared to its average volume of 1,530,922. The company has a market capitalization of C$12.98 billion, a P/E ratio of 71.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. Keyera has a 12 month low of C$40.09 and a 12 month high of C$59.99. 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 business’s 50-day simple moving average is C$54.10 and its two-hundred day simple moving average is C$50.03.

Keyera (TSE:KEY) last issued its earnings results on Thursday, May 14th. The company reported C($0.53) earnings per share for the quarter. Keyera had a return on equity of 6.59% and a net margin of 2.73%.The business had revenue of C$1.30 billion for the quarter. Sell-side analysts expect that Keyera will post 2.2166667 EPS 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.