Pembina Pipeline (TSE:PPL) Sets New 1-Year High – Here’s Why

Shares of Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA) reached a new 52-week high during trading on Thursday . The company traded as high as C$69.34 and last traded at C$68.78, with a volume of 175231 shares. The stock had previously closed at C$68.23.

Analysts Set New Price Targets

A number of research firms recently commented on PPL. Royal Bank Of Canada boosted their price objective on shares of Pembina Pipeline from C$62.00 to C$64.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Canadian Imperial Bank of Commerce lifted their target price on shares of Pembina Pipeline from C$64.00 to C$66.00 in a research report on Wednesday, April 8th. Barclays boosted their price objective on shares of Pembina Pipeline from C$63.00 to C$69.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. TD raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$65.00 to C$75.00 in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Pembina Pipeline from C$64.00 to C$67.00 in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$65.38.

Pembina Pipeline Stock Up 0.9%

The firm’s 50-day moving average price is C$63.49 and its 200-day moving average price is C$58.89. The company has a market cap of C$40.03 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.58 and a beta of 0.28. The company has a debt-to-equity ratio of 82.35, a current ratio of 0.83 and a quick ratio of 0.50.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last released its quarterly earnings data 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 company had revenue of C$2.11 billion during the quarter. Sell-side analysts forecast 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.