Pembina Pipeline (TSE:PPL) Downgraded by Canadian Imperial Bank of Commerce to “Neutral”

Pembina Pipeline (TSE:PPL) (NYSE:PBA) was downgraded by stock analysts at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “neutral” rating in a report released on Thursday, BayStreet reports. They presently have a C$71.00 price target on the stock. Canadian Imperial Bank of Commerce‘s price target suggests a potential upside of 2.71% from the stock’s current price.

Several other research firms have also recently weighed in on PPL. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “hold” rating and raised their price objective for the company from C$69.00 to C$73.00 in a research report on Tuesday, July 21st. Wells Fargo & Company raised shares of Pembina Pipeline from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 13th. Barclays raised their price target on shares of Pembina Pipeline from C$69.00 to C$70.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Scotia raised their price target on shares of Pembina Pipeline from C$65.00 to C$69.00 and gave the company a “sector outperform” rating in a report on Friday, July 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Pembina Pipeline from C$68.00 to C$72.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and an average target price of C$68.79.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock traded down C$2.00 during trading on Thursday, reaching C$69.13. The company’s stock had a trading volume of 2,776,806 shares, compared to its average volume of 2,451,597. The stock has a 50-day moving average price of C$66.92 and a two-hundred day moving average price of C$66.22. The stock has a market capitalization of C$40.20 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 1.58 and a beta of 0.30. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 80.92. Pembina Pipeline has a one year low of C$50.15 and a one year high of C$72.72.

Pembina Pipeline Company Profile

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.