Pembina Pipeline (TSE:PPL) Cut to Strong Sell at Wells Fargo & Company

Key Points

• Pembina Pipeline has been downgraded by Wells Fargo & Company from an "equal weight" rating to an "underperform" rating, with a price target of C$50.00.
• Several other brokerages have provided mixed ratings, with Barclays maintaining an "overweight" rating and a price objective of C$57.00, while National Bank upgraded to a "strong-buy" rating with a C$56.00 target.
• The stock's current price is C$50.56, reflecting a trading volume of 1,931,170 shares, and it has experienced a 1-year low of C$48.35 and a high of C$60.72.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA was downgraded by Wells Fargo & Company from a "hold" rating to a "strong sell" rating in a report released on Wednesday, Marketbeat.com reports. They currently have a C$50.00 price target on the stock. Wells Fargo & Company's price target suggests a potential upside of 2.21% from the company's current price.

A number of other analysts also recently weighed in on the company. Barclays dropped their target price on Pembina Pipeline from C$58.00 to C$57.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating and dropped their target price for the company from C$61.00 to C$53.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on Pembina Pipeline from C$65.00 to C$62.00 in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of 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, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$57.82.

Pembina Pipeline Stock Performance

PPL traded down C$1.81 during trading hours on Wednesday, hitting C$48.92. The stock had a trading volume of 4,212,779 shares, compared to its average volume of 3,336,651. The company has a quick ratio of 0.50, a current ratio of 0.65 and a debt-to-equity ratio of 78.68. The stock has a market cap of C$28.28 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. Pembina Pipeline has a 1 year low of C$48.35 and a 1 year high of C$60.72. The company's fifty day simple moving average is C$51.00 and its 200 day simple moving average is C$52.53.

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.