Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) PT at $62.67

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) has earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $62.6667.

PBA has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, March 19th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd.

Hedge Funds Weigh In On Pembina Pipeline

A number of institutional investors have recently modified their holdings of PBA. Vanguard Group Inc. grew its position in shares of Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after buying an additional 541,615 shares during the period. FIL Ltd grew its position in shares of Pembina Pipeline by 2.6% during the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock worth $532,541,000 after buying an additional 359,109 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Pembina Pipeline by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after buying an additional 94,655 shares during the period. CIBC Asset Management Inc grew its position in shares of Pembina Pipeline by 17.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after buying an additional 1,304,227 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Pembina Pipeline by 3.9% during the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after buying an additional 283,513 shares during the period. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Performance

NYSE PBA opened at $48.82 on Friday. 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 market capitalization of $28.38 billion, a price-to-earnings ratio of 25.43 and a beta of 0.57. The company’s fifty day moving average is $45.64 and its two-hundred day moving average is $42.30. Pembina Pipeline has a 52-week low of $35.45 and a 52-week high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Equities research analysts forecast that Pembina Pipeline will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.735 dividend. This is a boost 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 6.0%. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s payout ratio is presently 108.33%.

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.