Keyera Corp to Post FY2017 Earnings of $1.47 Per Share, Cormark Forecasts (KEY)
Keyera Corp (TSE:KEY) – Investment analysts at Cormark lifted their FY2017 earnings per share estimates for shares of Keyera in a report issued on Monday. Cormark analyst B. Watson now forecasts that the company will post earnings of $1.47 per share for the year, up from their prior estimate of $1.46. Cormark also issued estimates for Keyera’s Q4 2017 earnings at $0.39 EPS, Q3 2018 earnings at $0.50 EPS and Q4 2018 earnings at $0.61 EPS.
Several other research analysts have also recently issued reports on the stock. CIBC decreased their price objective on shares of Keyera from C$49.00 to C$46.00 in a report on Thursday, August 17th. TD Securities reduced their target price on shares of Keyera from C$44.00 to C$43.00 and set a “buy” rating for the company in a report on Thursday, November 9th. BMO Capital Markets restated an “outperform” rating and set a C$43.00 target price on shares of Keyera in a report on Monday. Royal Bank of Canada reduced their target price on shares of Keyera from C$46.00 to C$45.00 and set an “outperform” rating for the company in a report on Thursday, August 17th. Finally, Raymond James Financial reduced their target price on shares of Keyera from C$45.00 to C$44.00 and set an “outperform” rating for the company in a report on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of C$43.50.
The company also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Tuesday, November 21st. Keyera’s dividend payout ratio is 128.15%.
Keyera Corp. is engaged in energy midstream businesses, and operates in oil and gas sector between upstream and downstream sectors. The Company is organized into two business units: Gathering and Processing Business Unit and Liquids Business Unit. The Gathering and Processing Business Unit owns and operates raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products and separate the economic components, primarily natural gas liquids (NGLs).
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