Pembina Pipeline (TSE:PPL) Rating Lowered to "Neutral" at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce downgraded Pembina Pipeline from “outperformer” to “neutral,” while maintaining a C$71 price target—only about 2.71% above the current share price.
• Analyst sentiment remains broadly positive but mixed: Pembina has an average “Moderate Buy” rating and a consensus price target of C$68.79, with ratings ranging from “Strong Buy” to “Hold.”
• Shares fell C$2.00 to C$69.13 in Thursday trading. Pembina has a C$40.20 billion market capitalization and has traded between C$50.15 and C$72.72 over the past year.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA was downgraded by investment analysts at Canadian Imperial Bank of Commerce from an "outperformer" rating to a "neutral" rating in a report released on Thursday, BayStreet reports. They currently have a C$71.00 price target on the stock. Canadian Imperial Bank of Commerce's target price would indicate a potential upside of 2.71% from the company's current price.

Several other research analysts have also issued reports on PPL. Wells Fargo & Company upgraded Pembina Pipeline from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, July 13th. ATB Cormark Capital Markets boosted their target price on shares of Pembina Pipeline from C$70.00 to C$72.00 and gave the company an "outperform" rating in a research note on Friday, July 3rd. Scotiabank lowered shares of Pembina Pipeline from a "sector outperform" rating to a "hold" rating and upped their target price for the stock from C$69.00 to C$73.00 in a report on Tuesday, July 21st. Barclays increased their target price on shares of Pembina Pipeline from C$69.00 to C$70.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Finally, Scotia lifted their price target on shares of 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. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$68.79.

Pembina Pipeline Price Performance

TSE PPL traded down C$2.00 on Thursday, reaching C$69.13. The company's stock had a trading volume of 2,776,806 shares, compared to its average volume of 2,451,597. The firm has a market cap of C$40.20 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.58 and a beta of 0.30. The business has a 50-day moving average price of C$66.92 and a 200 day moving average price of C$66.22. Pembina Pipeline has a 52 week low of C$50.15 and a 52 week high of C$72.72. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 80.92.

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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