Pembina Pipeline (TSE:PPL) Stock Rating Lowered by Scotiabank

Pembina Pipeline (TSE:PPL) (NYSE:PBA) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “hold” rating in a research report issued on Tuesday, Marketbeat.com reports. They presently have a C$73.00 price target on the stock, up from their previous price target of C$69.00. Scotiabank’s price objective would indicate a potential upside of 1.91% from the stock’s previous close.

A number of other brokerages also recently weighed in on PPL. JPMorgan Chase & Co. boosted their target price on shares of Pembina Pipeline from C$64.00 to C$67.00 in a research note on Friday, May 15th. Scotia increased their price target on shares of Pembina Pipeline from C$65.00 to C$69.00 and gave the company a “sector outperform” rating in a research note on Friday, July 3rd. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Pembina Pipeline from C$72.00 to C$73.00 and gave the stock an “outperformer” rating in a research report on Friday, July 3rd. Finally, BMO Capital Markets upped their price objective on Pembina Pipeline from C$60.00 to C$63.00 in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of C$67.00.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at C$71.63 on Tuesday. The stock has a 50-day simple moving average of C$67.54 and a 200 day simple moving average of C$62.02. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 82.35. Pembina Pipeline has a 12-month low of C$48.74 and a 12-month high of C$72.38. The stock has a market capitalization of C$41.65 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.58 and a beta of 0.27.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.81 earnings per share (EPS) for the quarter. Pembina Pipeline had a net margin of 22.22% and a return on equity of 9.98%. The business had revenue of C$2.11 billion for the quarter. On average, research analysts anticipate that Pembina Pipeline will post 3.439908 earnings per share 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.