JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Pembina Pipeline (TSE:PPL) Stock

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price increased by JPMorgan Chase & Co. from C$64.00 to C$67.00 in a research note issued to investors on Friday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.27% from the stock’s previous close.

A number of other brokerages have also recently weighed in on PPL. BMO Capital Markets lifted their price objective on Pembina Pipeline from C$60.00 to C$63.00 in a research note on Wednesday, April 8th. Royal Bank Of Canada lifted their price objective on Pembina Pipeline from C$62.00 to C$64.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. National Bank Financial lifted their price objective on Pembina Pipeline from C$61.00 to C$63.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Canadian Imperial Bank of Commerce lifted their price objective on Pembina Pipeline from C$64.00 to C$66.00 in a research note on Wednesday, April 8th. Finally, TD Securities lifted their price objective on Pembina Pipeline from C$63.00 to C$65.00 and gave the company a “hold” rating in a research note on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of C$62.82.

Pembina Pipeline Trading Up 0.7%

PPL stock traded up C$0.46 during midday trading on Friday, hitting C$67.18. 586,547 shares of the company’s stock were exchanged, compared to its average volume of 2,374,727. The business has a 50-day simple moving average of C$61.30 and a two-hundred day simple moving average of C$57.03. The company has a current ratio of 0.83, a quick ratio of 0.50 and a debt-to-equity ratio of 82.35. The stock has a market capitalization of C$39.06 billion, a PE ratio of 25.26, a P/E/G ratio of 1.58 and a beta of 0.42. Pembina Pipeline has a 1-year low of C$48.74 and a 1-year high of C$67.24.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its earnings results on Thursday, May 7th. The company reported C$0.81 earnings per share (EPS) for the quarter. The company had revenue of C$2.11 billion during the quarter. Pembina Pipeline had a return on equity of 9.98% and a net margin of 22.22%. On average, sell-side analysts predict that Pembina Pipeline 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.