Atb Cap Markets Brokers Lower Earnings Estimates for PBA

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Equities researchers at Atb Cap Markets reduced their Q3 2024 EPS estimates for shares of Pembina Pipeline in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will earn $0.57 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.40 per share. Atb Cap Markets also issued estimates for Pembina Pipeline’s FY2024 earnings at $2.26 EPS.

A number of other analysts also recently commented on PBA. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

PBA opened at $42.50 on Friday. The business has a 50 day moving average price of $41.23 and a two-hundred day moving average price of $38.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 5.97 and a beta of 1.25. Pembina Pipeline has a 1-year low of $30.25 and a 1-year high of $43.44.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 85.00%.

Institutional Trading of Pembina Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd boosted its stake in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after purchasing an additional 784,814 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Pembina Pipeline by 31.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company’s stock worth $104,940,000 after purchasing an additional 704,249 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Pembina Pipeline by 93.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock valued at $48,570,000 after purchasing an additional 664,843 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.