Today, an analyst has provided a rating update for the Materials sector company, Pembina Pipeline (TSX: PPL). Analyst Robert Catellier from CIBC reiterated a Buy rating, with a C$53 price target.
According to TipRanks.com, Catellier is a 1-star analyst with an average return of -1.5% and a 42.7% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pembina Pipeline with a C$54.29 average price target, a 27.3% upside from current levels. In a report released today, National Bank also maintained a Buy rating on the stock with a C$58 price target.
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Based on Pembina Pipeline’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.95 billion and net profit of C$246 million. In comparison, last year the company earned revenue of C$1.04 billion and had a net profit of C$107 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 Friday at C$42.65.
