Pembina Pipeline (TSE:PPL) Hits New 52-Week High - Here's Why

Key Points

• Pembina Pipeline shares hit a new 52-week high, reaching C$69.52 intraday and last trading around C$69.27, up from the previous close of C$67.27.
• Recent analyst updates have generally been positive, with several firms raising price targets to as high as C$72.00 and the stock carrying a consensus Moderate Buy rating.
• The company reported solid recent results, including C$0.81 EPS and C$2.11 billion in revenue for the quarter, while analysts expect full-year EPS of about 3.44.

Pembina Pipeline Co. (TSE:PPL - Get Free Report) NYSE: PBA shares hit a new 52-week high on Monday . The company traded as high as C$69.52 and last traded at C$69.27, with a volume of 192758 shares trading hands. The stock had previously closed at C$67.27.

Analysts Set New Price Targets

PPL has been the subject of a number of recent research reports. Barclays increased their price target on shares of Pembina Pipeline from C$63.00 to C$69.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. ATB Cormark Capital Markets increased their price target on Pembina Pipeline from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a report on Friday, July 3rd. Scotia lifted their price objective on 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. Citigroup lowered shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from C$63.00 to C$70.00 in a research report on Monday, May 18th. Finally, National Bank Financial boosted their price target on Pembina Pipeline from C$63.00 to C$71.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$66.57.

Pembina Pipeline Stock Performance

The stock's 50-day moving average is C$66.24 and its 200-day moving average is C$60.95. The company has a debt-to-equity ratio of 82.35, a current ratio of 0.83 and a quick ratio of 0.50. The stock has a market cap of C$40.29 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.58 and a beta of 0.27.

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA last released its earnings results on Thursday, May 7th. The company reported C$0.81 EPS for the quarter. Pembina Pipeline had a return on equity of 9.98% and a net margin of 22.22%.The firm had revenue of C$2.11 billion during the quarter. Analysts anticipate that Pembina Pipeline Co. will post 3.439908 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.