Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Price Target at $64.00

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.00.

PBA has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday. Weiss Ratings cut Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday.

Hedge Funds Weigh In On Pembina Pipeline

Institutional investors and hedge funds have recently modified their holdings of the business. Cardinal Capital Management Inc. lifted its position in shares of Pembina Pipeline by 10.0% in the fourth quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock worth $124,621,000 after purchasing an additional 298,412 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Pembina Pipeline by 2.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock valued at $64,798,000 after purchasing an additional 40,944 shares in the last quarter. Vanguard Group Inc. grew its position in Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in Pembina Pipeline by 27.3% in the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock valued at $7,919,000 after buying an additional 44,500 shares during the last quarter. Finally, Nicola Wealth Management LTD. increased its stake in Pembina Pipeline by 28.0% in the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after buying an additional 216,300 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $51.37 on Friday. Pembina Pipeline has a 1 year low of $35.45 and a 1 year high of $51.58. The firm has a 50 day moving average of $48.33 and a 200-day moving average of $44.99. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $29.87 billion, a P/E ratio of 26.75 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Pembina Pipeline will post 2.22 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.735 per share. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s payout ratio is 110.94%.

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.