Wells Fargo & Company Issues Positive Forecast for Pembina Pipeline (TSE:PPL) Stock Price

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price increased by stock analysts at Wells Fargo & Company from C$61.00 to C$63.00 in a research note issued on Wednesday,BayStreet.CA reports. Wells Fargo & Company‘s price target would suggest a potential upside of 8.53% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Pembina Pipeline from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. ATB Capital increased their price target on shares of Pembina Pipeline from C$56.00 to C$58.00 in a research report on Wednesday, July 24th. Raymond James set a C$63.00 price objective on Pembina Pipeline and gave the stock an “outperform” rating in a research report on Friday, October 11th. Citigroup increased their target price on Pembina Pipeline from C$53.00 to C$56.00 in a report on Wednesday, August 28th. Finally, BMO Capital Markets boosted their price target on Pembina Pipeline from C$56.00 to C$58.00 in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$58.86.

Pembina Pipeline Price Performance

PPL stock traded up C$0.26 during trading on Wednesday, reaching C$58.05. 456,502 shares of the company were exchanged, compared to its average volume of 2,692,836. Pembina Pipeline has a 52-week low of C$43.37 and a 52-week high of C$59.86. The company has a debt-to-equity ratio of 77.50, a quick ratio of 0.50 and a current ratio of 0.69. The company has a market cap of C$33.68 billion, a P/E ratio of 17.81, a PEG ratio of 1.58 and a beta of 1.48. The stock’s 50 day moving average price is C$57.06 and its 200 day moving average price is C$53.28.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.60 EPS for the quarter, missing the consensus estimate of C$0.79 by C($0.19). Pembina Pipeline had a return on equity of 11.89% and a net margin of 20.60%. The firm had revenue of C$1.84 billion for the quarter, compared to analysts’ expectations of C$2.03 billion. As a group, analysts predict that Pembina Pipeline will post 3.439908 earnings per share for the current fiscal year.

Insider Transactions at Pembina Pipeline

In related news, Senior Officer Jaret Sprott sold 37,414 shares of Pembina Pipeline stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$52.55, for a total value of C$1,965,933.60. In other news, Senior Officer J. Scott Burrows sold 3,926 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$54.32, for a total value of C$213,251.68. Also, Senior Officer Jaret Sprott sold 37,414 shares of Pembina Pipeline stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$52.55, for a total transaction of C$1,965,933.60. Insiders own 0.05% of the company’s stock.

Pembina Pipeline Company Profile

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.