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

Keyera (TSE:KEY) had its target price increased by investment analysts at Scotiabank from C$48.00 to C$50.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 12.11% from the stock’s previous close.

Several other equities research analysts have also recently commented on KEY. ATB Capital lifted their target price on Keyera from C$43.00 to C$44.00 in a research note on Friday, November 15th. BMO Capital Markets lifted their target price on Keyera from C$41.00 to C$44.00 in a research note on Friday, November 15th. Citigroup lifted their target price on Keyera from C$46.00 to C$50.00 in a research note on Monday, November 18th. Royal Bank of Canada lifted their target price on Keyera from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group lifted their target price on Keyera from C$43.00 to C$47.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Keyera has an average rating of “Moderate Buy” and a consensus price target of C$43.42.

Keyera Price Performance

KEY stock traded down C$0.04 during midday trading on Wednesday, reaching C$44.60. 1,981,880 shares of the company’s stock traded hands, compared to its average volume of 1,023,783. The company has a 50-day simple moving average of C$44.28 and a two-hundred day simple moving average of C$40.56. Keyera has a 1-year low of C$31.16 and a 1-year high of C$47.90. The company has a market cap of C$10.22 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.35 and a beta of 2.09. The company has a quick ratio of 0.57, a current ratio of 1.30 and a debt-to-equity ratio of 143.51.

Insider Transactions at Keyera

In related news, Director James Vance Bertram sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$46.38, for a total value of C$2,318,750.00. Corporate insiders own 0.39% of the company’s stock.

Keyera Company Profile

Keyera Corp. engages in the gathering and processing of natural gas; and transportation, storage, and marketing of natural gas liquids (NGLs) in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment 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; and provides gas handling and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization services.