Pembina Pipeline (TSE:PPL) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Pembina Pipeline's stock price recently crossed above its 200-day moving average, indicating potential upward momentum, trading at C$55.15.
• Analysts have provided mixed ratings for the stock, with Jefferies downgrading it to a "hold" and Raymond James raising its target price, while the consensus rating remains a "Moderate Buy."
• The company has a market capitalization of C$32.04 billion and a price-to-earnings ratio of 18.63, reflecting its growth potential in the midstream sector.

Pembina Pipeline Co. (TSE:PPL - Get Free Report) NYSE: PBA crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$52.43 and traded as high as C$55.44. Pembina Pipeline shares last traded at C$55.15, with a volume of 3,890,882 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on PPL. Raymond James Financial raised their price objective on shares of Pembina Pipeline from C$63.00 to C$64.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Wells Fargo & Company lowered shares of Pembina Pipeline from an "equal weight" rating to an "underperform" rating and set a C$50.00 price target on the stock. in a research report on Wednesday, August 6th. BMO Capital Markets decreased their price target on shares of Pembina Pipeline from C$59.00 to C$57.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$61.00 to C$53.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a C$62.00 price target on shares of Pembina Pipeline and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$58.10.

Pembina Pipeline Stock Up 0.5%

The stock has a market cap of C$32.03 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.58 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 0.50 and a debt-to-equity ratio of 78.68. The firm's fifty day moving average is C$51.78 and its 200 day moving average is C$52.41.

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.