Desjardins Remains a Buy on Keyera Corp. (KEY)

By Jason Carr

Keyera Corp. (KEYResearch Report) has received a rating update from a Wall Street analyst today. The company received a Buy rating from Desjardins’ analyst Bill Cabel, with a C$37 price target.

According to TipRanks.com, Cabel is a 4-star analyst with an average return of 5.2% and a 72.3% success rate. Cabel covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners L.P., Algonquin Power & Utilities Corp, and Pattern Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Keyera Corp. with a C$39.38 average price target.

Based on Keyera Corp.’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$34.68 million. In comparison, last year the company had a net profit of C$88.05 million.

Keyera Corp. engages in the provision of energy midstream business. It involves in the exploration, and production of oil and gas and services including refining, distribution, as well as retail and marketing of finished products. It operates through the Gathering and Processing; and Liquid Business units.

The company’s shares closed on Monday at C$27.72.