Pembina Pipeline (TSE:PPL) Downgraded by Wells Fargo & Company to Equal Weight

Pembina Pipeline (TSE:PPL) (NYSE:PBA) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday,BayStreet.CA reports. They presently have a C$57.00 price objective on the stock, down from their previous price objective of C$63.00. Wells Fargo & Company‘s target price would indicate a potential upside of 9.83% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. National Bankshares upped their price objective on shares of Pembina Pipeline from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Royal Bank of Canada increased their price objective on shares of Pembina Pipeline from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Citigroup upped their target price on shares of Pembina Pipeline from C$53.00 to C$56.00 in a research note on Wednesday, August 28th. Barclays set a C$63.00 price objective on Pembina Pipeline and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, Raymond James dropped their price target on Pembina Pipeline from C$62.00 to C$61.00 in a research report on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of C$58.67.

Pembina Pipeline Stock Performance

Shares of PPL stock opened at C$51.90 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 77.50. The company has a market cap of C$30.11 billion, a PE ratio of 15.92, a P/E/G ratio of 1.58 and a beta of 1.48. The company’s fifty day simple moving average is C$57.48 and its 200-day simple moving average is C$54.54. Pembina Pipeline has a 52 week low of C$44.56 and a 52 week high of C$60.72.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last issued its earnings results on Tuesday, November 5th. The company reported C$0.60 earnings per share 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 company had revenue of C$1.84 billion during the quarter, compared to analysts’ expectations of C$2.03 billion. As a group, equities research analysts anticipate that Pembina Pipeline will post 3.439908 EPS for the current year.

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.