Keyera (KEY) Reaches New 1-Year Low After Analyst Downgrade

Keyera (TSE:KEY) shares reached a new 52-week low during mid-day trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$42.00 to C$41.00. The stock traded as low as C$33.55 and last traded at C$34.12, with a volume of 506391 shares changing hands. The stock had previously closed at C$35.01.

Several other research firms have also recently issued reports on KEY. National Bank Financial dropped their price target on Keyera from C$45.00 to C$43.00 and set an “outperform” rating on the stock in a report on Monday, January 29th. TD Securities upped their price target on Keyera from C$42.00 to C$43.00 in a report on Thursday, May 10th. CIBC lowered their price objective on shares of Keyera from C$46.00 to C$45.00 in a research report on Wednesday, May 9th. Industrial Alliance Securities cut shares of Keyera from a “strong-buy” rating to a “buy” rating and lifted their price objective for the stock from C$42.00 to C$43.00 in a research report on Monday, April 30th. Finally, Scotiabank lifted their price objective on shares of Keyera from C$38.00 to C$39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$42.50.

Keyera (TSE:KEY) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.45 earnings per share for the quarter, topping the consensus estimate of C$0.43 by C$0.02. Keyera had a net margin of 8.57% and a return on equity of 15.95%. The firm had revenue of C$1.03 billion for the quarter, compared to analysts’ expectations of C$853.62 million.

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 15th. Shareholders of record on Wednesday, May 23rd will be given a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Tuesday, May 22nd.

Keyera Company Profile

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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