Raymond James Believes Pembina Pipeline (PPL) Won’t Stop Here
A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Pembina Pipeline (PPL) received a Buy rating from Raymond James’ analyst Chris Cox, with a C$51 price target.
According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.3% and a 50.9% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pembina Pipeline with a C$54.14 average price target, representing a 15.9% upside. 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 Monday at C$46.72, close to its 52-week high of C$47.84.