Pembina Pipeline (TSE:PPL) Shares Break Above 50 Day Moving Average – Here’s Why

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA)’s share price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$67.43 and traded as high as C$68.84. Pembina Pipeline shares last traded at C$68.16, with a volume of 2,604,458 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PPL shares. Canadian Imperial Bank of Commerce lowered Pembina Pipeline from an “outperformer” rating to a “hold” rating and set a C$71.00 price objective for the company. in a report on Thursday, October 22nd. BMO Capital Markets raised their target price 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. TD upped their target price on shares of Pembina Pipeline from C$79.00 to C$80.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Barclays boosted their price target on shares of Pembina Pipeline from C$69.00 to C$70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Finally, Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “hold” rating and lifted their target price for the stock from C$69.00 to C$73.00 in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of C$69.64.

Pembina Pipeline Stock Up 2.0%

The company has a market capitalization of C$39.64 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.58 and a beta of 0.42. The stock’s fifty day moving average price is C$67.43 and its 200-day moving average price is C$64.77. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 80.92.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last issued its earnings results on Thursday, November 5th. The company reported C$0.77 earnings per share (EPS) for the quarter. Pembina Pipeline had a return on equity of 10.54% and a net margin of 22.64%. The company had revenue of C$2.18 billion for the quarter. On average, sell-side analysts predict that Pembina Pipeline Co. will post 3.44 earnings per share for the current fiscal year.

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.