Royal Bank Of Canada Forecasts Strong Price Appreciation for Pembina Pipeline (NYSE:PBA) Stock

by · The Cerbat Gem

Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) had its target price upped by investment analysts at Royal Bank Of Canada from $64.00 to $68.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 47.01% from the company’s previous close.

A number of other analysts have also recently weighed in on PBA. Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. TD Securities restated a “hold” rating on shares of Pembina Pipeline in a report on Wednesday, April 8th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. lifted their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.67.

Read Our Latest Research Report on PBA

Pembina Pipeline Price Performance

PBA traded up $0.54 during midday trading on Monday, hitting $46.26. 233,348 shares of the company traded hands, compared to its average volume of 1,411,774. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The business has a 50 day simple moving average of $44.38 and a two-hundred day simple moving average of $41.07. Pembina Pipeline has a 52-week low of $35.45 and a 52-week high of $46.73. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of 24.11 and a beta of 0.58.

Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.52%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts forecast that Pembina Pipeline will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of Pembina Pipeline

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new stake in shares of Pembina Pipeline during the first quarter worth $374,000. Focus Partners Wealth acquired a new stake in Pembina Pipeline during the 1st quarter worth about $312,000. Marshall Wace LLP acquired a new stake in shares of Pembina Pipeline in the second quarter worth $253,000. Cresset Asset Management LLC raised its position in Pembina Pipeline by 4.1% during the second quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 534 shares in the last quarter. Finally, AXA S.A. increased its holdings in Pembina Pipeline by 17.5% in the second quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock valued at $878,000 after buying an additional 3,488 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

About Pembina Pipeline

(Get Free Report)

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.

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