Pembina Pipeline (NYSE:PBA) Hits New 1-Year High Following Analyst Upgrade

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from $64.00 to $68.00. Royal Bank Of Canada currently has an outperform rating on the stock. Pembina Pipeline traded as high as $46.77 and last traded at $46.7460, with a volume of 237338 shares. The stock had previously closed at $46.30.

Other equities analysts also recently issued reports about the company. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Wednesday, April 8th. TD Securities reiterated a “hold” rating on shares of Pembina Pipeline in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.67.

Institutional Investors Weigh In On Pembina Pipeline

Several large investors have recently added to or reduced their stakes in PBA. Norges Bank bought a new position in shares of Pembina Pipeline during the fourth quarter valued at approximately $213,701,000. BCV Asset Management Inc. bought a new position in shares of Pembina Pipeline during the fourth quarter valued at approximately $61,412,000. Morgan Stanley grew its stake in shares of Pembina Pipeline by 45.4% during the fourth quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after buying an additional 1,475,320 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Pembina Pipeline during the second quarter valued at approximately $52,514,000. Finally, CIBC Asset Management Inc grew its stake in shares of Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after buying an additional 1,304,227 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.9%

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. The stock has a market cap of $27.15 billion, a PE ratio of 24.31 and a beta of 0.58. The business has a fifty day moving average of $44.46 and a 200-day moving average of $41.18.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a return on equity of 11.52% and a net margin of 22.22%.Pembina Pipeline’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Equities research analysts anticipate that Pembina Pipeline Corp. will post 2.18 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, June 15th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 108.33%.

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.