Industrial Alliance Securities Upgrades Pembina Pipeline (PPL) to “Strong-Buy”

Pembina Pipeline (TSE:PPL) (NYSE:PBA) was upgraded by equities research analysts at Industrial Alliance Securities from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a C$50.00 target price on the stock, down from their prior target price of C$51.00. Industrial Alliance Securities’ price target suggests a potential upside of 23.89% from the company’s current price.

Other equities analysts also recently issued research reports about the company. National Bank Financial upped their target price on Pembina Pipeline from C$50.00 to C$51.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. TD Securities upped their target price on Pembina Pipeline from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Monday, November 6th. JPMorgan Chase & Co. upped their target price on Pembina Pipeline from C$53.00 to C$55.00 in a report on Friday, December 8th. CIBC upped their target price on Pembina Pipeline from C$50.00 to C$51.00 in a report on Thursday, January 11th. Finally, BMO Capital Markets dropped their target price on Pembina Pipeline from C$48.00 to C$47.00 in a report on Tuesday, February 6th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$51.10.

Pembina Pipeline (PPL) traded up C$0.21 during midday trading on Wednesday, reaching C$40.36. The company’s stock had a trading volume of 622,391 shares, compared to its average volume of 1,155,115. The firm has a market cap of $20,200.00, a P/E ratio of 32.02 and a beta of 0.28. Pembina Pipeline has a 12-month low of C$38.10 and a 12-month high of C$46.17.

In other news, Director Bruce D. Rubin purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was acquired at an average price of C$35.37 per share, with a total value of C$176,850.00. Also, Director Maureen Howe purchased 2,400 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average cost of C$45.08 per share, with a total value of C$108,192.00. Insiders bought a total of 8,915 shares of company stock worth $334,311 in the last quarter.

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About Pembina Pipeline

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

Analyst Recommendations for Pembina Pipeline (TSE:PPL)

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