Shares of Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) have earned an average recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$52.22.
A number of analysts have weighed in on PPL shares. CIBC cut their target price on shares of Pembina Pipeline to C$53.00 in a research report on Monday, May 7th. Raymond James raised their target price on shares of Pembina Pipeline from C$48.00 to C$49.00 in a research report on Thursday, July 5th. National Bank Financial raised their target price on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, August 3rd. Royal Bank of Canada raised their target price on shares of Pembina Pipeline from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research report on Friday, August 3rd. Finally, TD Securities raised their target price on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research report on Friday, August 3rd.
Pembina Pipeline stock traded up C$0.73 during mid-day trading on Thursday, reaching C$46.91. The company had a trading volume of 726,254 shares, compared to its average volume of 1,179,897. Pembina Pipeline has a fifty-two week low of C$37.60 and a fifty-two week high of C$47.84.
In other Pembina Pipeline news, Director Douglas James Arnell purchased 600 shares of the business’s stock in a transaction dated Thursday, May 31st. The shares were bought at an average price of C$44.65 per share, for a total transaction of C$26,790.00. Also, Director Henry William Sykes purchased 1,200 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of C$46.52 per share, for a total transaction of C$55,824.00. Insiders acquired 3,201 shares of company stock worth $147,039 in the last 90 days.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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