Pembina Pipeline (TSE:PPL) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Pembina Pipeline shares crossed above their 200-day moving average, reaching C$68.60 and closing at C$68.41, compared with a 200-day average of C$63.87.
• Analysts generally remain positive, with the stock receiving a “Moderate Buy” consensus rating and an average price target of C$68.86. Several firms raised their targets, including CIBC to C$73 and ATB Cormark to C$72, although Scotiabank downgraded the shares to “hold.”
• Pembina Pipeline has a market capitalization of approximately C$39.78 billion and operates an extensive North American energy transportation and midstream infrastructure network.

Pembina Pipeline Co. (TSE:PPL - Get Free Report) NYSE: PBA's share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$63.87 and traded as high as C$68.60. Pembina Pipeline shares last traded at C$68.41, with a volume of 862,510 shares.

Analysts Set New Price Targets

Several analysts have issued reports on PPL shares. ATB Cormark Capital Markets increased their target price on shares of Pembina Pipeline from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a research note on Friday, July 3rd. Scotia upped their price target on shares of Pembina Pipeline from C$65.00 to C$69.00 and gave the stock a "sector outperform" rating in a report on Friday, July 3rd. Canadian Imperial Bank of Commerce increased their price objective on Pembina Pipeline from C$72.00 to C$73.00 and gave the stock an "outperformer" rating in a research report on Friday, July 3rd. Wells Fargo & Company raised Pembina Pipeline from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, July 13th. Finally, Scotiabank cut Pembina Pipeline from a "sector outperform" rating to a "hold" rating and boosted their target price for the stock from C$69.00 to C$73.00 in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$68.86.

Pembina Pipeline Price Performance

The business's fifty day moving average price is C$68.15 and its 200-day moving average price is C$63.87. The company has a market capitalization of C$39.78 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.58 and a beta of 0.28. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 80.92.

Pembina Pipeline Company Profile

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.

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