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

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $55.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 34.47% from the stock’s current price.

A number of other research firms have also recently weighed in on PBA. TD Securities cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Finally, Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Pembina Pipeline Stock Up 1.9%

Shares of NYSE PBA traded up $0.84 during mid-day trading on Thursday, reaching $44.62. 1,300,140 shares of the company were exchanged, compared to its average volume of 1,466,016. Pembina Pipeline has a 1 year low of $34.13 and a 1 year high of $45.09. The firm has a 50-day moving average of $42.26 and a 200 day moving average of $39.85. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 23.48 and a beta of 0.68. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, research analysts expect that Pembina Pipeline will post 2.15 earnings per share for the current year.

Institutional Trading of Pembina Pipeline

A number of institutional investors have recently bought and sold shares of PBA. Tobam purchased a new stake in Pembina Pipeline during the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pembina Pipeline in the third quarter worth $31,000. Westside Investment Management Inc. lifted its stake in shares of Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock worth $32,000 after buying an additional 404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pembina Pipeline during the fourth quarter worth $36,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after buying an additional 750 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.