Pembina Pipeline (NYSE:PBA) Reaches New 1-Year High After Analyst Upgrade
by Mitch Edgeman · The Markets DailyShares of Pembina Pipeline Corp. (NYSE:PBA – Get Free Report) (TSE:PPL) hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $60.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pembina Pipeline traded as high as $45.16 and last traded at $44.6310, with a volume of 125219 shares traded. The stock had previously closed at $44.65.
Several other equities research analysts have also issued reports on the stock. TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.00.
Get Our Latest Research Report on Pembina Pipeline
Institutional Investors Weigh In On Pembina Pipeline
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in Pembina Pipeline by 1.0% during the fourth quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after purchasing an additional 248 shares during the period. Larson Financial Group LLC grew its stake in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the period. Ethic Inc. grew its stake in shares of Pembina Pipeline by 2.0% in the 4th quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after buying an additional 278 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Pembina Pipeline by 2.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock worth $551,000 after buying an additional 293 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of Pembina Pipeline by 2.9% during the 2nd quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.
Pembina Pipeline Trading Up 0.1%
The stock has a market cap of $25.98 billion, a PE ratio of 23.53 and a beta of 0.68. The company’s 50-day moving average price is $42.42 and its 200 day moving average price is $39.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last issued its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm earned $0.92 EPS. Pembina Pipeline’s revenue was down 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.
Pembina Pipeline Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, March 16th. Pembina Pipeline’s dividend payout ratio is currently 109.47%.
About Pembina Pipeline
Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.
The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.