Pembina Pipeline Corp (PPL) Receives “Overweight” Rating from JPMorgan Chase & Co.
Pembina Pipeline Corp (TSE:PPL)‘s stock had its “overweight” rating reissued by JPMorgan Chase & Co. in a report released on Thursday. They currently have a C$47.00 target price on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 16.31% from the company’s previous close.
A number of other brokerages have also weighed in on PPL. TD Securities boosted their target price on shares of Pembina Pipeline Corp from C$41.00 to C$44.00 and gave the company a “buy” rating in a research note on Monday, August 8th. BMO Capital Markets boosted their target price on shares of Pembina Pipeline Corp from C$40.00 to C$41.00 in a research note on Thursday, July 7th. Scotiabank reiterated an “outperform” rating and set a C$44.00 target price on shares of Pembina Pipeline Corp in a research note on Monday, August 8th. RBC Capital Markets boosted their target price on shares of Pembina Pipeline Corp from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Finally, National Bank Financial lowered shares of Pembina Pipeline Corp from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$41.00 to C$43.00 in a research note on Monday, July 18th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$43.69.
Shares of Pembina Pipeline Corp (TSE:PPL) traded up 1.08% during midday trading on Thursday, hitting $40.41. The company had a trading volume of 675,311 shares. The firm has a market capitalization of $15.84 billion and a P/E ratio of 37.38. Pembina Pipeline Corp has a 1-year low of $26.05 and a 1-year high of $41.00. The stock has a 50 day moving average price of $39.62 and a 200 day moving average price of $38.42.
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The business also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 15th will be paid a $0.16 dividend. This represents a $1.92 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, October 21st.
Pembina Pipeline Corp Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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