Keyera Corp T.KEY

And Two More

[retiredcf]

Citi’s Spiro Dounis raised his Keyera Corp.  target to $40 from $37 with a “buy” rating, while Stifel’s Cole Pereira moved his target to $40 from $39 with a “buy” rating. The average is $37.57.

“Marketing continues to outperform run rate expectations and would be a record if not for maintenance,” Mr. Dounis said. “We now estimate an improved 10-per-cent average FCF yield through ‘28 vs. 9 per cent prior. Excess cash flows help fund several identified potential expansion projects beyond ‘24 along with basin growth opportunities. While no projects were sanctioned yet, mgmt appears confident KAPS Zone 4, Frac de-bottleneck, and Frac 3 expansion projects will all move forward. Reinvesting in the business remains the preferred use of excess cash flow; however, mgmt also emphasized buybacks remain an option for cash flow if projects don’t emerge.”

[gassygeezer]

Good post, Keyera has been my second biggest holding since 2020(Su#1),one of the few where i'm good with their proven competency reinvesting capital into their strategy vs buybacks..or even increasing the divy to wait...I'll stay long Keyera while dipping into enb and trp opportunisticly

[Puma1back]

Good comments, i just hope they don't piss away money on buybacks - invest in the projects or the dividend.  I tried to post the RBC upside comments which are basically that the company gets back to its long term price multiple. Smith built a heck of a company & the new mgmt group are taking it to the next stage. They don't have any of the project risks that ENB has, like