In a report released yesterday, John Bereznicki from Canaccord Genuity initiated coverage with a Buy rating on Pembina Pipeline (PBA) and a price target of C$42.00. The company’s shares closed last Thursday at $26.53.
According to TipRanks.com, Bereznicki has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.6% and a 41.2% success rate. Bereznicki covers the Industrial Goods sector, focusing on stocks such as Trican Well Service, Precision Drilling, and Inter Pipeline.
Pembina Pipeline has an analyst consensus of Strong Buy, with a price target consensus of $30.25, implying a 13.5% upside from current levels. In a report issued on August 6, Credit Suisse also maintained a Buy rating on the stock with a C$40.00 price target.
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Pembina Pipeline’s market cap is currently $14.59B and has a P/E ratio of 20.10. The company has a Price to Book ratio of 1.15.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PBA in relation to earlier this year.
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Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segment: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure. The Facilities segment consists of processing and fractionation facilities and related infrastructure that delivers the firm’s customers with natural gas and NGL services. The Marketing and New Ventures segment undertakes value-added commodity marketing activities including buying and selling products and optimizing storage opportunities. The company was founded on September 29, 1954 and is headquartered in Calgary, Canada.
