Keyera (KEY) Downgraded by BMO Capital Markets to Market Perform

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BMO Capital Markets cut shares of Keyera (TSE:KEY) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday. BMO Capital Markets currently has C$36.00 price target on the stock, down from their previous price target of C$43.00.

KEY has been the topic of several other research reports. Raymond James lifted their target price on Keyera from C$42.00 to C$43.00 in a research note on Friday, October 5th. CIBC decreased their target price on Keyera from C$46.00 to C$45.00 in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of C$41.55.

Shares of KEY opened at C$29.53 on Wednesday. Keyera has a 12-month low of C$29.35 and a 12-month high of C$38.91. The company has a debt-to-equity ratio of 85.63, a quick ratio of 0.84 and a current ratio of 1.16.

Keyera (TSE:KEY) last issued its earnings results on Wednesday, August 8th. The company reported C$0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.37 by C$0.15. The business had revenue of C$1.08 billion for the quarter, compared to the consensus estimate of C$972.50 million. On average, analysts forecast that Keyera will post 1.75999988891519 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 17th will be issued a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 6.10%. The ex-dividend date is Wednesday, November 21st. Keyera’s dividend payout ratio is presently 105.39%.

In other Keyera news, insider Michael Andrew Freeman sold 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of C$37.23, for a total transaction of C$119,136.00.

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 Marketing segment is involved in the marketing of NGLs, such as propane, butane, condensate, sulphur, and iso-octane, as well as various crude oil midstream activities.

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Analyst Recommendations for Keyera (TSE:KEY)

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