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

Keyera (TSE:KEY) had its target price increased by Scotiabank from C$65.00 to C$66.00 in a research note released on Tuesday morning,BayStreet.CA reports. They currently have a sector outperform rating on the stock.

KEY has been the subject of a number of other research reports. Scotia increased their target price on Keyera from C$55.00 to C$60.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Raymond James Financial cut their price target on Keyera from C$66.00 to C$65.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on Keyera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 16th. TD set a C$68.00 price objective on Keyera and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Keyera from C$63.00 to C$65.00 in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$60.93.

Keyera Stock Up 0.5%

Keyera stock opened at C$59.36 on Tuesday. The company has a 50 day moving average of C$57.55 and a 200-day moving average of C$52.49. The company has a quick ratio of 0.57, a current ratio of 1.60 and a debt-to-equity ratio of 249.10. Keyera has a twelve month low of C$40.09 and a twelve month high of C$60.30. The stock has a market capitalization of C$17.42 billion, a PE ratio of 75.14, a price-to-earnings-growth ratio of 1.35 and a beta of 0.49.

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

Keyera Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, June 15th. Keyera’s dividend payout ratio is presently 270.89%.

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.