ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Pembina Pipeline (TSE:PPL) Stock

Key Points

• ATB Cormark raised its price target on Pembina Pipeline to C$66 (from C$64) and kept an "outperform" rating, implying about a 8.14% upside from the prior close.
• Multiple other firms (RBC, BMO, Barclays, National Bank, TD) also nudged targets higher; the analyst mix is six Buys, four Holds and one Sell, leaving a MarketBeat consensus of "Hold" with an average target of C$62.09.
• PPL traded at C$61.03 on Wednesday (market cap C$35.47B) with a P/E of 22.94; the company reported C$0.78 EPS last quarter and analysts forecast about 3.44 EPS for the current fiscal year.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA had its price objective increased by analysts at ATB Cormark Capital Markets from C$64.00 to C$66.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective would indicate a potential upside of 8.14% from the stock's previous close.

Several other research firms have also weighed in on PPL. Royal Bank Of Canada raised their price objective on Pembina Pipeline from C$62.00 to C$64.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. BMO Capital Markets raised their price objective on Pembina Pipeline from C$60.00 to C$63.00 in a research note on Wednesday. Barclays raised their price objective on Pembina Pipeline from C$62.00 to C$63.00 in a research note on Wednesday. National Bank Financial raised their price objective on Pembina Pipeline from C$61.00 to C$63.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, TD Securities raised their price objective on Pembina Pipeline from C$63.00 to C$65.00 and gave the company a "hold" rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$62.09.

Pembina Pipeline Price Performance

Shares of PPL traded down C$1.00 during trading hours on Wednesday, hitting C$61.03. 1,200,440 shares of the company were exchanged, compared to its average volume of 2,627,347. The company has a market cap of C$35.47 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.58 and a beta of 0.36. Pembina Pipeline has a fifty-two week low of C$48.35 and a fifty-two week high of C$64.27. The company has a quick ratio of 0.50, a current ratio of 0.61 and a debt-to-equity ratio of 82.58. The firm's fifty day moving average is C$60.26 and its 200 day moving average is C$55.99.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA last released its earnings results on Thursday, February 26th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$1.91 billion for the quarter. Pembina Pipeline had a return on equity of 9.91% and a net margin of 21.66%. On average, equities analysts anticipate that Pembina Pipeline will post 3.439908 earnings per share for the current fiscal year.

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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