Pembina Pipeline (NYSE:PBA) Shares Cross Above 50-Day Moving Average – What’s Next?

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $48.02 and traded as high as $48.90. Pembina Pipeline shares last traded at $48.2170, with a volume of 1,183,320 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on PBA. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Weiss Ratings lowered shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 22nd. Canadian Imperial Bank of Commerce cut shares of Pembina Pipeline from an “outperform” rating to a “hold” rating in a report on Thursday, October 22nd. Finally, TD Securities restated a “buy” rating on shares of Pembina Pipeline in a report on Friday, October 16th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Stock Up 1.2%

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The stock has a 50 day simple moving average of $48.02 and a 200-day simple moving average of $46.60. The firm has a market cap of $28.04 billion, a PE ratio of 20.17 and a beta of 0.59.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, November 5th. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. Pembina Pipeline had a return on equity of 12.62% and a net margin of 24.77%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Sell-side analysts predict that Pembina Pipeline Corp. will post 2.19 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a C$0.73 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, December 15th. Pembina Pipeline’s payout ratio is currently 88.70%.

Institutional Trading of Pembina Pipeline

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in shares of Pembina Pipeline during the second quarter valued at $285,738,000. Canada Pension Plan Investment Board bought a new stake in Pembina Pipeline in the 2nd quarter worth about $264,907,000. Deutsche Bank AG bought a new stake in Pembina Pipeline in the 2nd quarter worth about $262,233,000. Legal & General Group Plc bought a new stake in Pembina Pipeline in the 2nd quarter worth about $199,230,000. Finally, Bank of Nova Scotia bought a new stake in Pembina Pipeline in the 2nd quarter worth about $174,133,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a Canadian energy transportation and midstream services company headquartered in Calgary, Alberta. Founded in 1954, it began as a pipeline operator serving oil fields in Alberta and has expanded into a range of energy infrastructure businesses.

The company transports crude oil, natural gas and natural gas liquids through its pipeline networks. Its operations also include natural gas gathering and processing, liquids fractionation, storage and terminalling, along with services that help connect producers with domestic and export markets.

Pembina’s assets and services are concentrated in Western Canada, with additional operations and market connections in the United States.