GMP FirstEnergy Believes Pembina Pipeline (PPL) Won’t Stop Here
In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Pembina Pipeline (PPL). The company received a Buy rating from GMP FirstEnergy’s analyst Ian Gillies, with a C$58 price target.
According to TipRanks.com, Gillies ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.4% and a 39.3% success rate. Gillies covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Inter Pipeline Ltd.
Currently, the analyst consensus on Pembina Pipeline is a Strong Buy with an average price target of C$54.50, which is a 15.4% upside from current levels. In a report issued on January 23, National Bank also maintained a Buy rating on the stock with a C$57 price target.
Based on Pembina Pipeline’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$2.05 billion and net profit of C$334 million. In comparison, last year the company earned revenue of C$1.72 billion and had a net profit of C$445 million.
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Conventional Pipelines, Oil Sands and Heavy Oil, Gas Services. and Midstream.
The company’s shares closed on Tuesday at C$47.23, close to its 52-week high of C$47.84.