CSFB upgraded shares of Keyera (TSE:KEY) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has C$40.00 price target on the stock, up from their prior price target of C$32.00.
A number of other brokerages have also recently issued reports on KEY. Raymond James reaffirmed an outperform rating and issued a C$40.00 target price on shares of Keyera in a report on Wednesday, May 15th. Royal Bank of Canada upped their target price on shares of Keyera from C$39.00 to C$41.00 and gave the company an outperform rating in a report on Thursday, May 16th. GMP Securities dropped their target price on shares of Keyera from C$34.50 to C$33.50 in a report on Wednesday, June 12th. CIBC upped their target price on shares of Keyera from C$40.00 to C$43.00 in a report on Thursday, May 16th. Finally, National Bank Financial upped their target price on shares of Keyera from C$42.00 to C$44.00 and gave the company an outperform rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of C$40.39.
Shares of KEY stock traded up C$0.37 on Wednesday, reaching C$34.09. The stock had a trading volume of 140,754 shares, compared to its average volume of 577,494. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 99.09. The stock’s 50-day moving average price is C$34.08. The stock has a market capitalization of $7.02 billion and a price-to-earnings ratio of 20.98. Keyera has a 12 month low of C$24.05 and a 12 month high of C$38.91.
Keyera (TSE:KEY) last issued its earnings results on Tuesday, May 14th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.35 by C($0.19). The firm had revenue of C$836.75 million for the quarter, compared to the consensus estimate of C$1.21 billion. Research analysts forecast that Keyera will post 1.75 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.16 dividend. This is a boost from Keyera’s previous monthly dividend of $0.15. This represents a $1.92 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend is Wednesday, August 21st. Keyera’s dividend payout ratio is currently 108.31%.
Keyera Company Profile
Keyera Corp. engages in the transportation, storage, and marketing of natural gas liquids (NGLs) and iso-octane in Canada and the United States. The company's Gathering and Processing business units operates a network of approximately 4,000 kilometers of pipelines and 17 natural gas processing plants located in the natural gas production areas primarily on the western side of the Western Canada Sedimentary Basin.
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