Pembina Pipeline (TSE:PPL) Reaches New 1-Year High – Here’s What Happened

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$60.75 and last traded at C$60.41, with a volume of 653926 shares traded. The stock had previously closed at C$60.40.

Analyst Upgrades and Downgrades

PPL has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce cut their price objective on shares of Pembina Pipeline from C$62.00 to C$61.00 in a research report on Tuesday, December 16th. BMO Capital Markets lowered their price target on Pembina Pipeline from C$59.00 to C$58.00 in a research note on Tuesday, December 16th. National Bank Financial raised their price objective on Pembina Pipeline from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$59.00 to C$62.00 in a report on Tuesday, February 17th. Finally, ATB Cormark Capital Markets set a C$61.00 price objective on Pembina Pipeline and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of C$59.25.

Pembina Pipeline Price Performance

The stock has a market cap of C$35.09 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a quick ratio of 0.50, a current ratio of 0.65 and a debt-to-equity ratio of 78.68. The company’s 50-day moving average is C$55.16 and its 200-day moving average is C$54.12.

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.