JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Pembina Pipeline (NYSE:PBA) Stock

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its target price lifted by analysts at JPMorgan Chase & Co. from $55.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 33.18% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Price Performance

PBA stock opened at $45.05 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. Pembina Pipeline has a one year low of $34.13 and a one year high of $45.25. The stock has a market cap of $26.19 billion, a PE ratio of 23.71 and a beta of 0.68. The firm has a 50 day simple moving average of $42.58 and a two-hundred day simple moving average of $39.94.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.92 EPS. The business’s quarterly revenue was down 10.8% on a year-over-year basis. On average, analysts predict that Pembina Pipeline will post 2.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tobam bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Pembina Pipeline during the 3rd quarter worth approximately $31,000. Westside Investment Management Inc. increased its stake in Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 404 shares during the period. Physician Wealth Advisors Inc. increased its stake in Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 750 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Pembina Pipeline in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.