Pembina Pipeline Corp. (NYSE:PBA) Receives $62.67 Average Target Price from Analysts

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $62.6667.

Several analysts have commented on PBA shares. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, March 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th.

Pembina Pipeline Stock Up 1.5%

Shares of PBA opened at $49.27 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. Pembina Pipeline has a 12 month low of $35.45 and a 12 month high of $50.10. The stock’s 50 day moving average is $45.86 and its two-hundred day moving average is $42.53. The firm has a market cap of $28.65 billion, a P/E ratio of 25.66 and a beta of 0.57.

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

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. Pembina Pipeline’s dividend payout ratio (DPR) is 108.33%.

Hedge Funds Weigh In On Pembina Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC purchased a new position in shares of Pembina Pipeline in the first quarter valued at approximately $25,000. Tobam purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pembina Pipeline in the third quarter valued at approximately $31,000. Westside Investment Management Inc. lifted its position in shares of Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 404 shares in the last quarter. Finally, Physician Wealth Advisors Inc. lifted its position in shares of Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

About Pembina Pipeline

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.