Barclays Issues Positive Forecast for Pembina Pipeline (TSE:PPL) Stock Price

Key Points

• Barclays raised Pembina Pipeline’s price target from C$69 to C$70 and maintained an “overweight” rating, implying 6.76% upside from the previous close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average target price of C$68.93; recent targets from other firms range as high as C$73.
• Pembina shares closed at C$65.57 after falling C$0.80, while the company reported a market capitalization of approximately C$38.13 billion and a 52-week trading range of C$50.15 to C$72.72.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA had its price target increased by equities researchers at Barclays from C$69.00 to C$70.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 6.76% from the stock's previous close.

Several other analysts have also weighed in on PPL. Scotia upped their price objective on Pembina Pipeline from C$65.00 to C$69.00 and gave the company a "sector outperform" rating in a report on Friday, July 3rd. Canadian Imperial Bank of Commerce upped their price target on shares of Pembina Pipeline from C$72.00 to C$73.00 and gave the company an "outperformer" rating in a report on Friday, July 3rd. BMO Capital Markets raised their price objective on shares of Pembina Pipeline from C$68.00 to C$72.00 and gave the company a "market perform" rating in a research report on Friday, July 31st. Scotiabank cut shares of Pembina Pipeline from a "sector outperform" rating to a "hold" rating and lifted their price objective for the stock from C$69.00 to C$73.00 in a research note on Tuesday, July 21st. Finally, ATB Cormark Capital Markets boosted their target price on shares of Pembina Pipeline from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a report on Friday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$68.93.

Pembina Pipeline Stock Performance

PPL stock traded down C$0.80 during trading on Wednesday, reaching C$65.57. 1,041,243 shares of the company's stock were exchanged, compared to its average volume of 2,458,918. Pembina Pipeline has a 1-year low of C$50.15 and a 1-year high of C$72.72. The firm has a market cap of C$38.13 billion, a PE ratio of 23.09, a P/E/G ratio of 1.58 and a beta of 0.30. The company's fifty day moving average price is C$66.75 and its 200-day moving average price is C$65.71. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 80.92.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities.

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