The stock of Pembina Pipeline Corp (TSE:PPL) gapped up by $0.05 today and has $65.20 target or 66.00% above today’s $39.28 share price. The 9 months technical chart setup indicates low risk for the $14.83B company. The gap was reported on Nov, 21 by Barchart.com. If the $65.20 price target is reached, the company will be worth $9.79 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 569,840 shares traded hands. Pembina Pipeline Corp (TSE:PPL) has risen 8.34% since April 15, 2016 and is uptrending. It has outperformed by 4.48% the S&P500.
Pembina Pipeline Corp (TSE:PPL) Ratings Coverage
Out of 5 analysts covering Pembina Pipeline Corporation (TSE:PPL), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $47 is the highest target while $36 is the lowest. The $43.56 average target is 10.90% above today’s ($39.28) stock price. Pembina Pipeline Corporation has been the topic of 24 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Friday, November 20, the company rating was maintained by RBC Capital Markets. The firm has “Outperform” rating given on Monday, August 10 by RBC Capital Markets. The firm has “Outperform” rating by National Bank Canada given on Friday, November 20. TD Securities maintained Pembina Pipeline Corp (TSE:PPL) on Monday, August 10 with “Buy” rating. The stock has “Outperform” rating given by BMO Capital Markets on Thursday, February 4. GMP Securities initiated the shares of PPL in a report on Monday, June 27 with “Buy” rating. Raymond James maintained the stock with “” rating in Monday, June 6 report. The stock of Pembina Pipeline Corp (TSE:PPL) has “Outperform” rating given on Tuesday, August 11 by IBC. The firm earned “Outperform” rating on Friday, November 4 by Scotia Capital. The firm has “Sector Outperform” rating by Scotia Capital given on Saturday, August 8.
More important recent Pembina Pipeline Corp (TSE:PPL) news were published by: Fool.com which released: “Pembina Pipeline Corp.’s Earnings and Development Plans Remain on Track” on November 09, 2016, also Fool.ca published article titled: “Did Pembina Pipeline Corp. Deserve to Rise 40%?”, Fool.ca published: “The Case to Buy Pembina Pipeline Corp. Today” on March 29, 2016. More interesting news about Pembina Pipeline Corp (TSE:PPL) was released by: Forbes.com and their article: “Ex-Dividend Reminder: Fastenal, Pembina Pipeline and Lakeland Financial” with publication date: October 19, 2016.
Pembina Pipeline Corporation is a transportation and midstream service provider. The company has a market cap of $14.83 billion. The Firm operates through four divisions: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. It has a 38.19 P/E ratio. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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