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

Pembina Pipeline (TSE:PPL - Get Free Report) NYSE: PBA had its price objective boosted by JPMorgan Chase & Co. from C$60.00 to C$62.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 17.25% from the stock's previous close.

Several other brokerages have also issued reports on PPL. UBS Group decreased their price target on shares of Pembina Pipeline from C$62.00 to C$57.00 in a report on Wednesday, March 5th. Raymond James increased their price target on Pembina Pipeline from C$62.00 to C$63.00 in a research note on Monday, March 3rd. Barclays set a C$63.00 price objective on Pembina Pipeline and gave the stock an "overweight" rating in a research report on Thursday, December 12th. TD Securities set a C$66.00 target price on Pembina Pipeline and gave the company a "buy" rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from C$63.00 to C$57.00 in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pembina Pipeline currently has an average rating of "Moderate Buy" and an average target price of C$59.31.

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Pembina Pipeline Price Performance

Shares of PPL traded down C$4.05 during midday trading on Monday, hitting C$52.88. The company's stock had a trading volume of 6,421,704 shares, compared to its average volume of 3,239,336. The company has a quick ratio of 0.50, a current ratio of 0.65 and a debt-to-equity ratio of 78.68. Pembina Pipeline has a one year low of C$46.71 and a one year high of C$60.72. The stock has a market capitalization of C$30.57 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The company's fifty day simple moving average is C$54.23 and its two-hundred day simple moving average is C$55.40.

Insider Buying and Selling

In other news, Senior Officer Chris Scherman acquired 797 shares of the firm's stock in a transaction on Friday, March 21st. The stock was purchased at an average price of C$54.05 per share, for a total transaction of C$43,077.85. Also, Senior Officer J. Scott Burrows sold 18,106 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$55.43, for a total value of C$1,003,615.58. Over the last 90 days, insiders purchased 13,984 shares of company stock worth $755,351. 0.05% of the stock is owned by corporate insiders.

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.