Scotiabank Brokers Decrease Earnings Estimates for Keyera

Keyera Corp. (TSE:KEY) – Analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Keyera in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will earn $2.13 per share for the year, down from their previous estimate of $2.17. Scotiabank has a “Outperform” rating and a $50.00 price target on the stock. The consensus estimate for Keyera’s current full-year earnings is $2.22 per share. Scotiabank also issued estimates for Keyera’s FY2026 earnings at $2.31 EPS.

KEY has been the topic of several other reports. Citigroup boosted their target price on Keyera from C$46.00 to C$50.00 in a report on Monday, November 18th. Jefferies Financial Group boosted their price objective on Keyera from C$43.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their target price on Keyera from C$41.00 to C$44.00 in a research note on Friday, November 15th. Barclays set a C$46.00 price target on shares of Keyera and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada raised their price objective on shares of Keyera from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Four research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.62.

Keyera Stock Performance

KEY opened at C$44.69 on Friday. The firm has a market capitalization of C$10.24 billion, a PE ratio of 29.99, a PEG ratio of 1.35 and a beta of 2.09. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 143.51. Keyera has a twelve month low of C$31.16 and a twelve month high of C$47.90. The firm’s 50-day moving average price is C$44.47 and its 200 day moving average price is C$41.71.

Keyera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.65%. Keyera’s dividend payout ratio is currently 139.60%.

Insider Activity

In related news, Director James Vance Bertram sold 50,000 shares of Keyera stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of C$46.38, for a total value of C$2,318,750.00. 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.