Pembina Pipeline (TSE:PPL) Hits New 12-Month High – Here’s Why

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$63.20 and last traded at C$63.05, with a volume of 2766416 shares traded. The stock had previously closed at C$62.10.

Analyst Ratings Changes

A number of research analysts have recently commented on PPL shares. ATB Cormark Capital Markets upped their price objective on shares of Pembina Pipeline from C$61.00 to C$64.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Canadian Imperial Bank of Commerce raised their target price on shares of Pembina Pipeline from C$61.00 to C$64.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Jefferies Financial Group boosted their target price on shares of Pembina Pipeline from C$53.00 to C$57.00 in a report on Wednesday, February 4th. Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from C$62.00 to C$64.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Barclays increased their price target on shares of Pembina Pipeline from C$57.00 to C$62.00 in a research note on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$61.00.

Pembina Pipeline Stock Performance

The stock has a 50-day simple moving average of C$58.86 and a 200-day simple moving average of C$55.45. The company has a debt-to-equity ratio of 82.58, a current ratio of 0.61 and a quick ratio of 0.50. The stock has a market cap of C$36.65 billion, a PE ratio of 23.70, a P/E/G ratio of 1.58 and a beta of 0.53.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last released its quarterly earnings data on Thursday, February 26th. The company reported C$0.78 EPS for the quarter. The company had revenue of C$1.91 billion for the quarter. Pembina Pipeline had a return on equity of 9.91% and a net margin of 21.66%. Equities analysts predict that Pembina Pipeline Co. 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.