Royal Bank of Canada Lowers Pembina Pipeline (TSE:PPL) Price Target to C$62.00

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target cut by equities research analysts at Royal Bank of Canada from C$65.00 to C$62.00 in a research note issued to investors on Monday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 19.62% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Raymond James lifted their price objective on shares of Pembina Pipeline from C$62.00 to C$63.00 in a research note on Monday, March 3rd. TD Securities set a C$66.00 price objective on shares of Pembina Pipeline and gave the company a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price objective on shares of Pembina Pipeline from C$62.00 to C$59.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group decreased their price objective on shares of Pembina Pipeline from C$62.00 to C$57.00 in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pembina Pipeline currently has an average rating of “Moderate Buy” and a consensus target price of C$59.13.

Pembina Pipeline Stock Performance

Shares of TSE PPL opened at C$51.83 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.50 and a debt-to-equity ratio of 78.68. Pembina Pipeline has a 12 month low of C$48.35 and a 12 month high of C$60.72. The company has a 50 day simple moving average of C$54.05 and a two-hundred day simple moving average of C$54.37. The stock has a market cap of C$29.96 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.58 and a beta of 1.48.

Insider Activity at Pembina Pipeline

In related news, Director Andy Mah purchased 4,105 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of C$48.84 per share, with a total value of C$200,488.20. Also, Senior Officer Janet C. Loduca sold 5,338 shares of the business’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. Insiders bought a total of 18,089 shares of company stock worth $955,839 in the last three months. Company insiders own 0.05% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline is midstream company serving the Canadian and North American ( primarily Bakken) markets with an integrated product portfolio. The firms’ assets include pipelines and gas gathering, as well as assets across fractionation, storage, and propane exports.