Pembina Pipeline (NYSE:PBA) Hits New 1-Year High – Here’s Why

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $49.11 and last traded at $49.1240, with a volume of 80919 shares traded. The stock had previously closed at $48.99.

Analysts Set New Price Targets

Several research firms have recently commented on PBA. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Wednesday, April 8th. TD Securities reaffirmed a “hold” rating on shares of Pembina Pipeline in a research report on Wednesday, April 8th. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.67.

Pembina Pipeline Stock Up 0.2%

The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The firm has a 50-day moving average price of $44.93 and a 200 day moving average price of $41.62. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 25.83 and a beta of 0.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.735 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.9%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 108.33%.

Institutional Investors Weigh In On Pembina Pipeline

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after buying an additional 541,615 shares in the last quarter. FIL Ltd raised its position in Pembina Pipeline by 2.6% during the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock valued at $532,541,000 after purchasing an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pembina Pipeline by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after purchasing an additional 94,655 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after purchasing an additional 1,304,227 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Pembina Pipeline by 3.9% during the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after purchasing an additional 283,513 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Company Profile

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.