Zacks Investment Research Downgrades Pembina Pipeline (PBA) to Sell
Pembina Pipeline (NYSE:PBA) (TSE:PPL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
Separately, BidaskClub downgraded Pembina Pipeline from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $41.50.
Shares of Pembina Pipeline (PBA) traded up $0.95 on Wednesday, reaching $34.86. The company had a trading volume of 1,159,700 shares, compared to its average volume of 370,594. The company has a market cap of $17,350.15, a P/E ratio of 34.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.60 and a current ratio of 0.78. Pembina Pipeline has a 52-week low of $28.30 and a 52-week high of $36.29.
Large investors have recently added to or reduced their stakes in the company. Girard Partners LTD. grew its stake in shares of Pembina Pipeline by 0.9% in the second quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock worth $381,000 after purchasing an additional 97 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Pembina Pipeline by 0.8% in the second quarter. Bank of Nova Scotia now owns 1,685,920 shares of the pipeline company’s stock worth $55,842,000 after purchasing an additional 13,345 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Pembina Pipeline by 21.4% in the second quarter. Fiera Capital Corp now owns 1,884,414 shares of the pipeline company’s stock worth $62,606,000 after purchasing an additional 332,531 shares in the last quarter. Shell Asset Management Co. grew its stake in shares of Pembina Pipeline by 259.3% in the third quarter. Shell Asset Management Co. now owns 122,186 shares of the pipeline company’s stock worth $5,765,000 after purchasing an additional 88,182 shares in the last quarter. Finally, Aviva PLC grew its stake in shares of Pembina Pipeline by 1.7% in the second quarter. Aviva PLC now owns 248,929 shares of the pipeline company’s stock worth $8,233,000 after purchasing an additional 4,210 shares in the last quarter. 42.46% of the stock is owned by institutional investors.
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About Pembina Pipeline
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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