Pembina Pipeline Corp Stock Forecast:
Based on the analysis of 17 analysts, the average target price for Pembina Pipeline Corp stock over the next 12 months is CAD 49.08. The average analyst rating for the stock is Buy. Stock Target Advisor’s analysis of Pembina Pipeline Corp is Bullish, supported by 10 positive signals and 2 negative signals. As of the last closing, the stock price of Pembina Pipeline Corp was CAD 42.28. Over the past week, the stock price has increased by +0.57%, while over the past month and the last year, it has decreased by -5.20% and -17.53% respectively.
Analysts Coverage Change:
- STA Research Upgrades its rating on Pembina Pipeline Corp. to a “Speculative Buy” and maintains the $45 target price.
- CIBC World Markets maintains Pembina Pipeline (PPL:TSX) with a “Neutral” rating and a $53 target.
Pembina Pipeline Corp. News:
Pembina Pipeline Corporation has recently made a significant announcement regarding the development of a low-carbon ammonia supply chain from Western Canada to Japan and other Asian markets. The company has signed a Memorandum of Agreement (MOA) with Marubeni Corporation to advance this ambitious project.
The primary focus of the project is the joint development of a large-scale, low-carbon hydrogen and ammonia production facility. This facility will be located on Pembina-owned lands near Fort Saskatchewan, Alberta, adjacent to its Redwater Complex in the Alberta Industrial Heartland. The strategic location of the facility will enable efficient transportation and distribution of low-carbon ammonia to international markets.
This partnership between Pembina and Marubeni demonstrates their commitment to sustainable and environmentally friendly solutions. By utilizing low-carbon technologies, the project aims to significantly reduce greenhouse gas emissions associated with ammonia production and distribution. The adoption of these technologies aligns with global efforts to combat climate change and achieve carbon neutrality.
The demand for low-carbon ammonia is expected to increase in the coming years, driven by the need for cleaner energy sources and the transition towards a more sustainable future. Japan, in particular, has been actively exploring the use of ammonia as a carbon-free fuel for power generation and shipping.
The development of a robust low-carbon ammonia supply chain will not only contribute to reducing carbon emissions but also create new opportunities for economic growth and job creation. The project will involve collaborations with various stakeholders, including government agencies, local communities, and technology providers.
