Pembina Pipeline (TSE:PPL) Downgraded to “Sector Perform” Rating by Scotiabank

Pembina Pipeline (TSE:PPL) (NYSE:PBA) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$73.00 price objective on the stock, up from their previous price objective of C$69.00. Scotiabank’s price target suggests a potential upside of 2.74% from the company’s previous close.

PPL has been the topic of a number of other research reports. Barclays raised their target price on shares of Pembina Pipeline from C$63.00 to C$69.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on Pembina Pipeline from C$64.00 to C$67.00 in a research report on Friday, May 15th. Scotia raised their price target on 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. BMO Capital Markets boosted their price objective on Pembina Pipeline from C$60.00 to C$63.00 in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company upgraded Pembina Pipeline from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$67.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock traded down C$0.26 during trading hours on Tuesday, reaching C$71.05. The company’s stock had a trading volume of 518,116 shares, compared to its average volume of 2,559,731. The company’s 50 day simple moving average is C$67.26 and its 200 day simple moving average is C$61.75. The company has a debt-to-equity ratio of 82.35, a quick ratio of 0.50 and a current ratio of 0.83. Pembina Pipeline has a one year low of C$48.74 and a one year high of C$72.38. The stock has a market cap of C$41.31 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.58 and a beta of 0.27.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.81 EPS for the quarter. Pembina Pipeline had a net margin of 22.22% and a return on equity of 9.98%. The business had revenue of C$2.11 billion during the quarter. As a group, analysts expect 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.