Pembina Pipeline (NYSE:PBA) Sets New 1-Year High – Here’s What Happened

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $44.90 and last traded at $44.8250, with a volume of 170294 shares trading hands. The stock had previously closed at $43.99.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PBA shares. Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Friday. Finally, TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Stock Up 1.8%

The business’s fifty day moving average is $40.50 and its two-hundred day moving average is $39.22. The stock has a market cap of $26.03 billion, a price-to-earnings ratio of 23.52 and a beta of 0.68. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 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 11.15%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue was down 10.8% compared to the same quarter last year. Equities analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.3%. Pembina Pipeline’s dividend payout ratio is 106.84%.

Hedge Funds Weigh In On Pembina Pipeline

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline in the third quarter valued at approximately $31,000. Westside Investment Management Inc. raised its holdings in shares of Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth $36,000. Physician Wealth Advisors Inc. grew its stake in shares of Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 750 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Pembina Pipeline in the third quarter valued at $40,000. 55.37% of the stock is 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.