Pembina Pipeline (TSE:PPL) Price Target Lowered to C$57.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its target price for Pembina Pipeline (TSE:PPL) from C$59.00 to C$57.00, while maintaining an "outperform" rating on the stock.
• Pembina Pipeline shares traded down 3.2%, reaching C$49.09, amid a volatile trading session characterized by higher than average volume.
• Overall, Pembina Pipeline holds an average rating of "Moderate Buy" with a consensus price target of C$57.82, despite varying outlooks from multiple analysts.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA had its price objective lowered by analysts at BMO Capital Markets from C$59.00 to C$57.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target would indicate a potential upside of 16.09% from the company's previous close.

Several other research firms also recently weighed in on PPL. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Barclays cut their target price on Pembina Pipeline from C$58.00 to C$57.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating and cut their target price for the company from C$61.00 to C$53.00 in a research report on Wednesday, July 23rd. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating and set a C$50.00 target price on the stock. in a research report on Wednesday, August 6th. Finally, National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating and set a C$56.00 target price on the stock in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Pembina Pipeline currently has an average rating of "Moderate Buy" and a consensus price target of C$57.91.

Pembina Pipeline Trading Down 0.4%

PPL stock traded down C$0.22 during midday trading on Friday, reaching C$49.10. 181,462 shares of the company traded hands, compared to its average volume of 3,314,765. Pembina Pipeline has a 52-week low of C$48.35 and a 52-week high of C$60.72. The company has a debt-to-equity ratio of 78.68, a quick ratio of 0.50 and a current ratio of 0.65. The business has a 50 day moving average of C$50.90 and a 200-day moving average of C$52.45. The firm has a market capitalization of C$28.38 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.58 and a beta of 1.48.

About Pembina Pipeline

Pembina Pipeline is midstream company serving the Canadian and North American ( primarily Bakken) markets with an integrated product portfolio. The firms' assets include pipelines and gas gathering, as well as assets across fractionation, storage, and propane exports.