The stock of Pembina Pipeline Corp (TSE:PPL) gapped up by $0.27 today and has $41.53 target or 6.00% above today’s $39.18 share price. The 6 months technical chart setup indicates low risk for the $15.38 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $41.53 price target is reached, the company will be worth $922.80 million 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 442,455 shares traded hands. Pembina Pipeline Corp (TSE:PPL) has risen 1.88% since April 26, 2016 and is uptrending. It has underperformed by 3.35% 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 11.18% above today’s ($39.18) stock price. Pembina Pipeline Corporation has been the topic of 24 analyst reports since August 7, 2015 according to StockzIntelligence Inc. On Thursday, February 4 the stock rating was initiated by BMO Capital Markets with “Outperform”. The firm has “Outperform” rating by National Bank Canada given on Friday, November 20. The stock of Pembina Pipeline Corp (TSE:PPL) earned “Buy” rating by TD Securities on Monday, August 10. Scotia Capital maintained the shares of PPL in a report on Saturday, August 8 with “Sector Outperform” rating. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, November 20. The firm has “Outperform” rating given on Tuesday, August 11 by IBC. The rating was initiated by GMP Securities with “Buy” on Monday, June 27. The stock of Pembina Pipeline Corp (TSE:PPL) has “” rating given on Monday, June 6 by Raymond James. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, August 10 report. The firm has “Outperform” rating by Scotia Capital given on Friday, November 4.
More important recent Pembina Pipeline Corp (TSE:PPL) news were published by: Fool.ca which released: “Did Pembina Pipeline Corp. Deserve to Rise 40%?” on September 22, 2016, also Fool.ca published article titled: “The Case to Buy Pembina Pipeline Corp. Today”, Fool.ca published: “Does Pembina Pipeline Corp. or Inter Pipeline Ltd. Have the Better Dividend?” on March 11, 2016. More interesting news about Pembina Pipeline Corp (TSE:PPL) was released by: Fool.ca and their article: “Pembina Pipeline Corp.’s Q1 Earnings Are Out: What Should You Do Now?” with publication date: May 06, 2016.
Pembina Pipeline Corporation is a transportation and midstream service provider. The company has a market cap of $15.38 billion. The Firm operates through four divisions: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. It has a 38.09 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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