Pembina Pipeline (TSE:PPL) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Shares of Pembina Pipeline Co. (TSE:PPL) surpassed their 200-day moving average of C$52.39, closing at C$53.69 with a trading volume of approximately 3.5 million shares.
• Analysts are optimistic about Pembina Pipeline, with upgrades resulting in a consensus rating of "Moderate Buy" and an average price target of C$58.10.
• The company operates in the midstream sector, providing services related to pipelines and gas gathering primarily in the Canadian and North American markets.

Shares of Pembina Pipeline Co. (TSE:PPL - Get Free Report) NYSE: PBA passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.39 and traded as high as C$53.79. Pembina Pipeline shares last traded at C$53.69, with a volume of 3,499,895 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. National Bankshares upgraded shares of 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. BMO Capital Markets dropped their target price on shares of Pembina Pipeline from C$59.00 to C$57.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Raymond James Financial upped their target price on shares of Pembina Pipeline from C$63.00 to C$64.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada set a C$62.00 price objective on shares of Pembina Pipeline and gave the company an "outperform" rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average price target of C$58.10.

Pembina Pipeline Trading Up 1.1%

The stock's fifty day simple moving average is C$51.13 and its 200-day simple moving average is C$52.39. The firm has a market cap of C$31.19 billion, a PE ratio of 18.14, a PEG ratio of 1.58 and a beta of 0.72. The company has a debt-to-equity ratio of 78.68, a current ratio of 0.65 and a quick ratio of 0.50.

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.

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