Pembina Pipeline (TSE:PPL – Get Rating) (NYSE:PBA) had its target price hoisted by CIBC from C$48.00 to C$53.00 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 8.08% from the stock’s current price.
Several other brokerages also recently weighed in on PPL. ATB Capital lifted their target price on Pembina Pipeline from C$46.00 to C$48.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company raised their price target on Pembina Pipeline to C$45.00 and gave the company an “equal weight” rating in a report on Thursday, March 24th. Royal Bank of Canada raised their price target on Pembina Pipeline from C$48.00 to C$49.00 and gave the company an “outperform” rating in a report on Thursday, March 3rd. Credit Suisse Group reissued an “outperform” rating and issued a C$48.00 price target (up from C$46.00) on shares of Pembina Pipeline in a report on Monday, April 11th. Finally, BMO Capital Markets raised Pembina Pipeline from a “market perform” rating to a “buy” rating and raised their price target for the company from C$43.00 to C$50.00 in a report on Tuesday, March 1st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$47.61.
Shares of PPL stock opened at C$49.04 on Thursday. The business’s 50 day moving average is C$46.43 and its two-hundred day moving average is C$42.23. Pembina Pipeline has a twelve month low of C$36.65 and a twelve month high of C$51.45. The company has a market capitalization of C$26.99 billion and a P/E ratio of 24.64. The company has a current ratio of 0.52, a quick ratio of 0.34 and a debt-to-equity ratio of 83.28.
In other news, Senior Officer Stuart Taylor sold 4,265 shares of the company’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of C$46.66, for a total transaction of C$198,990.40. Following the completion of the transaction, the insider now owns 94,575 shares of the company’s stock, valued at approximately C$4,412,547.95. Also, Senior Officer Jaret Sprott sold 2,128 shares of the company’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of C$46.21, for a total transaction of C$98,325.52. Following the transaction, the insider now directly owns 15,158 shares of the company’s stock, valued at approximately C$700,384.48. Over the last 90 days, insiders sold 7,616 shares of company stock worth $353,739.
About Pembina Pipeline (Get Rating)
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.
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