Pembina Pipeline (TSE:PPL) Cut to “Hold” at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce downgraded shares of Pembina Pipeline (TSE:PPL) (NYSE:PBA) from an outperformer rating to a hold rating in a research report sent to investors on Thursday, Marketbeat.com reports. The firm currently has C$71.00 price target on the stock.

A number of other equities analysts also recently commented on PPL. BMO Capital Markets boosted 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 report on Friday, July 31st. 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. Wells Fargo & Company raised shares of Pembina Pipeline from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, July 13th. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “hold” rating and lifted their price objective for the stock from C$69.00 to C$73.00 in a research report on Tuesday, July 21st. Finally, Scotia boosted their price objective on shares of Pembina Pipeline from C$65.00 to C$69.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$69.29.

Pembina Pipeline Trading Up 1.9%

Shares of TSE:PPL opened at C$70.44 on Thursday. Pembina Pipeline has a 12-month low of C$50.15 and a 12-month high of C$72.72. The business’s fifty day simple moving average is C$66.98 and its 200-day simple moving average is C$66.30. The company has a market capitalization of C$40.96 billion, a PE ratio of 24.80, a P/E/G 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.

About Pembina Pipeline

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.