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

Keyera Corp (TSE:KEY)’s share price reached a new 52-week low during mid-day trading on Friday after Raymond James lowered their price target on the stock from C$43.00 to C$40.00. Raymond James currently has an outperform rating on the stock. Keyera traded as low as C$29.45 and last traded at C$29.50, with a volume of 422059 shares. The stock had previously closed at C$30.42.

Other equities analysts also recently issued reports about the stock. CIBC cut their price objective on shares of Keyera from C$46.00 to C$45.00 in a report on Wednesday, October 24th. BMO Capital Markets lifted their price objective on shares of Keyera from C$41.00 to C$43.00 in a report on Tuesday, September 11th. GMP Securities cut their price objective on shares of Keyera from C$40.00 to C$38.00 in a report on Thursday. Royal Bank of Canada cut their price target on shares of Keyera from C$45.00 to C$39.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, National Bank Financial cut their price target on shares of Keyera from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of C$41.55.

In related news, insider Michael Andrew Freeman sold 3,200 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of C$37.23, for a total value of C$119,136.00.

The company has a debt-to-equity ratio of 85.63, a current ratio of 1.16 and a quick ratio of 0.84.

Keyera (TSE:KEY) last released its quarterly earnings data on Wednesday, August 8th. The company reported C$0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.37 by C$0.15. The business had revenue of C$1.08 billion for the quarter, compared to analysts’ expectations of C$972.50 million. On average, sell-side analysts forecast that Keyera Corp will post 1.75999988891519 earnings per share for the current year.

The firm also recently disclosed 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 (DPR) is presently 105.39%.

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About Keyera (TSE:KEY)

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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