Pembina Pipeline (TSE:PPL) Price Target Raised to C$79.00

Key Points

• ATB Cormark raised Pembina Pipeline’s price target to C$79 from C$77 while maintaining an “outperform” rating, implying 12.17% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of C$69.29; recommendations include two Strong Buys, six Buys, and five Holds.
• Pembina shares rose C$1.30 to C$70.43 in Friday trading, near the company’s 52-week high of C$72.72, with a market capitalization of approximately C$40.96 billion.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA had its price objective increased by stock analysts at ATB Cormark Capital Markets from C$77.00 to C$79.00 in a research note issued on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets's target price suggests a potential upside of 12.17% from the stock's previous close.

Several other brokerages have also recently issued reports on PPL. Barclays lifted their price target on Pembina Pipeline from C$69.00 to C$70.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. BMO Capital Markets boosted their price objective on Pembina Pipeline from C$68.00 to C$72.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Scotiabank lowered Pembina Pipeline from a "sector outperform" rating to a "hold" rating and upped their price objective for the company from C$69.00 to C$73.00 in a report on Tuesday, July 21st. 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. Finally, Wells Fargo & Company raised Pembina Pipeline from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$69.29.

Pembina Pipeline Price Performance

Shares of TSE PPL traded up C$1.30 during mid-day trading on Friday, reaching C$70.43. 788,626 shares of the company traded hands, compared to its average volume of 2,451,191. Pembina Pipeline has a fifty-two week low of C$50.15 and a fifty-two week high of C$72.72. The firm has a market cap of C$40.96 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.58 and a beta of 0.30. The stock has a fifty day simple moving average of C$66.94 and a 200-day simple moving average of C$66.27. The company has a debt-to-equity ratio of 80.92, a current ratio of 0.62 and a quick ratio of 0.50.

About Pembina Pipeline

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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