JPMorgan Chase & Co. Issues Pessimistic Forecast for Pembina Pipeline (TSE:PPL) Stock Price

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from C$62.00 to C$59.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.32% from the stock’s current price.

Other research analysts have also issued reports about the company. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. UBS Group reduced their price target on shares of Pembina Pipeline from C$62.00 to C$57.00 in a research report on Wednesday, March 5th. Raymond James upped their price objective on shares of Pembina Pipeline from C$62.00 to C$63.00 in a report on Monday, March 3rd. Wells Fargo & Company cut shares of Pembina Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from C$63.00 to C$57.00 in a report on Wednesday, December 18th. Finally, TD Securities set a C$66.00 target price on shares of Pembina Pipeline and gave the company a “buy” rating in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$59.13.

Pembina Pipeline Stock Performance

Shares of TSE:PPL traded up C$0.39 on Tuesday, hitting C$51.61. 503,921 shares of the company were exchanged, compared to its average volume of 3,219,482. The firm has a market capitalization of C$29.84 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The company has a current ratio of 0.65, a quick ratio of 0.50 and a debt-to-equity ratio of 78.68. Pembina Pipeline has a 1-year low of C$46.71 and a 1-year high of C$60.72. The stock’s 50 day moving average price is C$53.93 and its 200 day moving average price is C$55.12.

Insider Buying and Selling

In other news, Director Andy Mah acquired 4,105 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of C$48.84 per share, with a total value of C$200,488.20. Also, Senior Officer Chris Scherman purchased 797 shares of Pembina Pipeline stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of C$54.05 per share, for a total transaction of C$43,077.85. Insiders purchased a total of 18,089 shares of company stock worth $955,839 in the last 90 days. Insiders own 0.05% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline is midstream company serving the Canadian and North American ( primarily Bakken) markets with an integrated product portfolio. The firms’ assets include pipelines and gas gathering, as well as assets across fractionation, storage, and propane exports.