Canadian Imperial Bank of Commerce Issues Positive Forecast for Pembina Pipeline (TSE:PPL) Stock Price

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price lifted by analysts at Canadian Imperial Bank of Commerce from C$72.00 to C$73.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 9.40% from the company’s previous close.

Several other analysts have also recently commented on the stock. ATB Cormark Capital Markets lifted 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. TD Securities upgraded Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. National Bank Financial lifted their price objective on Pembina Pipeline from C$63.00 to C$71.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. TD upgraded Pembina Pipeline from a “hold” rating to a “buy” rating and upped their target price for the company from C$65.00 to C$75.00 in a research note on Tuesday, May 26th. Finally, Citigroup downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating and increased their target price for the stock from C$63.00 to C$70.00 in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of C$66.57.

Pembina Pipeline Trading Up 1.4%

TSE:PPL traded up C$0.91 on Friday, reaching C$66.73. The stock had a trading volume of 351,336 shares, compared to its average volume of 2,601,525. The company has a market cap of C$38.80 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 1.58 and a beta of 0.28. The company has a debt-to-equity ratio of 82.35, a current ratio of 0.83 and a quick ratio of 0.50. The firm’s fifty day moving average is C$65.31 and its two-hundred day moving average is C$60.27. Pembina Pipeline has a 12-month low of C$48.74 and a 12-month high of C$69.42.

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