In a new note to investors yesterday, an analyst has provided a rating update for Pembina Pipeline (PPL). AltaCorp Captial’s analyst Nate Heywood reiterates their Buy rating on the shares, with a C$57 price target.
Heywood has an average return of 3.7% when recommending Pembina Pipeline.
According to TipRanks.com, Heywood is ranked #3668 out of 5261 analysts.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pembina Pipeline with a C$55.75 average price target, which is a 13.8% upside from current levels. In a report issued on August 6, Raymond James also maintained a Buy rating on the stock with a C$54 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$1.81 billion and net profit of C$664 million. In comparison, last year the company earned revenue of C$1.95 billion and had a net profit of C$246 million.
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: liquids and natural gas pipelines, conventional pipeline assets, transmission pipeline assets, oil sands, and heavy oil assets.
The company’s shares closed last Thursday at C$48.59.
