Pembina Pipeline (TSE:PPL) Price Target Raised to C$62.00

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target upped by analysts at JPMorgan Chase & Co. from C$60.00 to C$62.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.94% from the stock’s current price.

A number of other brokerages have also weighed in on PPL. BMO Capital Markets lowered their target price on Pembina Pipeline from C$61.00 to C$59.00 in a research report on Friday, December 13th. UBS Group dropped their target price on shares of Pembina Pipeline from C$62.00 to C$57.00 in a research note on Wednesday, March 5th. Wells Fargo & Company lowered shares of Pembina Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from C$63.00 to C$57.00 in a research report on Wednesday, December 18th. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Finally, TD Securities set a C$66.00 price objective on Pembina Pipeline and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$59.31.

Pembina Pipeline Trading Up 0.5 %

Shares of PPL traded up C$0.29 during mid-day trading on Monday, reaching C$57.44. 515,066 shares of the company were exchanged, compared to its average volume of 3,177,264. The stock has a market capitalization of C$33.21 billion, a PE ratio of 16.67, a PEG ratio of 1.58 and a beta of 1.48. Pembina Pipeline has a 52 week low of C$46.71 and a 52 week high of C$60.72. The company has a debt-to-equity ratio of 78.68, a quick ratio of 0.50 and a current ratio of 0.65. The business has a 50 day simple moving average of C$53.92 and a two-hundred day simple moving average of C$55.33.

Insider Activity

In other news, Senior Officer J. Scott Burrows sold 18,106 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$55.43, for a total transaction of C$1,003,615.58. Also, Senior Officer Janet C. Loduca sold 5,338 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$55.46, for a total transaction of C$296,045.48. Corporate insiders own 0.05% of the company’s stock.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.