GMP Securities Trims Keyera (TSE:KEY) Target Price to C$33.50

Keyera (TSE:KEY) had its target price reduced by research analysts at GMP Securities from C$34.50 to C$33.50 in a research note issued on Wednesday, BayStreet.CA reports. GMP Securities’ target price points to a potential upside of 6.18% from the company’s current price.

A number of other analysts have also weighed in on KEY. Cormark dropped their target price on shares of Keyera from C$45.00 to C$40.00 in a report on Tuesday, February 12th. AltaCorp Capital reiterated an “outperform” rating on shares of Keyera in a report on Wednesday, February 13th. Raymond James reiterated an “outperform” rating and set a C$39.00 target price on shares of Keyera in a report on Friday, February 22nd. TD Securities increased their target price on shares of Keyera from C$43.00 to C$44.00 and gave the stock a “buy” rating in a report on Monday, February 25th. Finally, National Bank Financial increased their target price on shares of Keyera from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Keyera has an average rating of “Buy” and a consensus target price of C$40.19.

TSE KEY traded down C$1.01 during trading on Wednesday, hitting C$31.55. 423,735 shares of the company’s stock traded hands, compared to its average volume of 622,225. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 99.09. Keyera has a 12-month low of C$24.05 and a 12-month high of C$38.91. The firm has a market cap of $6.83 billion and a price-to-earnings ratio of 19.42.

Keyera (TSE:KEY) last posted its quarterly earnings results on Tuesday, May 14th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.35 by C($0.19). The business had revenue of C$836.75 million for the quarter, compared to analyst estimates of C$1.21 billion. Equities analysts expect that Keyera will post 1.8 earnings per share for the current fiscal year.

About Keyera

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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