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

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 target cut by stock analysts at BMO Capital Markets from C$59.00 to C$57.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' target price suggests a potential upside of 14.76% from the stock's previous close.

A number of other equities analysts have also commented on PPL. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating and set a C$56.00 price target on the stock in a research report on Thursday, June 26th. Barclays lowered their price target 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. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. JPMorgan Chase & Co. dropped their price target on Pembina Pipeline from C$62.00 to C$59.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada reduced their price objective on Pembina Pipeline from C$65.00 to C$62.00 in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$57.91.

Pembina Pipeline Stock Up 1.0%

PPL traded up C$0.51 during midday trading on Friday, hitting C$49.67. 355,115 shares of the company's stock traded hands, compared to its average volume of 3,301,745. The company has a market cap of C$28.71 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. Pembina Pipeline has a one year low of C$48.35 and a one year high of C$60.72. The stock's fifty day simple moving average is C$50.84 and its 200-day simple moving average is C$52.43. The company has a debt-to-equity ratio of 78.68, a current ratio of 0.65 and a quick ratio of 0.50.

Pembina Pipeline Company Profile

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.