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

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target raised by JPMorgan Chase & Co. from C$60.00 to C$62.00 in a research report sent to investors on Monday,BayStreet.CA reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the company. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Wells Fargo & Company downgraded shares of Pembina Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from C$63.00 to C$57.00 in a report on Wednesday, December 18th. Raymond James lifted their price objective on Pembina Pipeline from C$62.00 to C$63.00 in a research report on Monday, March 3rd. BMO Capital Markets lowered their target price on Pembina Pipeline from C$61.00 to C$59.00 in a report on Friday, December 13th. Finally, Barclays set a C$63.00 price objective on Pembina Pipeline and gave the company an “overweight” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pembina Pipeline currently has an average rating of “Moderate Buy” and a consensus price target of C$59.31.

Pembina Pipeline Stock Performance

PPL opened at C$58.54 on Monday. Pembina Pipeline has a 1-year low of C$46.71 and a 1-year high of C$60.72. The stock has a market cap of C$33.84 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.58 and a beta of 1.48. The stock’s 50 day simple moving average is C$54.16 and its 200 day simple moving average is C$55.39. The company has a debt-to-equity ratio of 78.68, a current ratio of 0.65 and a quick ratio of 0.50.

Insider Activity

In other news, Senior Officer Janet C. Loduca sold 5,338 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$55.46, for a total transaction of C$296,045.48. Also, Senior Officer Chris Scherman bought 797 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of C$54.05 per share, for a total transaction of C$43,077.85. Corporate insiders own 0.05% of the company’s stock.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.