CIBC Raises Pembina Pipeline (NYSE:PBA) Price Target to $57.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price objective lifted by CIBC from $56.00 to $57.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an outperformer rating on the pipeline company’s stock.

PBA has been the topic of several other research reports. TheStreet raised shares of Pembina Pipeline from a c rating to a b- rating in a report on Thursday, February 29th. StockNews.com raised shares of Pembina Pipeline from a hold rating to a buy rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of Moderate Buy and a consensus price target of $52.00.

Pembina Pipeline Stock Up 0.6 %

Shares of PBA opened at $35.10 on Friday. The stock has a market capitalization of $20.34 billion, a PE ratio of 15.88, a P/E/G ratio of 5.21 and a beta of 1.20. Pembina Pipeline has a 1 year low of $28.15 and a 1 year high of $36.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.82. The company’s 50-day simple moving average is $34.88 and its 200-day simple moving average is $33.61.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. Analysts forecast that Pembina Pipeline will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.4944 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $1.98 annualized dividend and a yield of 5.63%. The ex-dividend date was Thursday, March 14th. Pembina Pipeline’s dividend payout ratio is currently 89.14%.

Hedge Funds Weigh In On Pembina Pipeline

Hedge funds have recently added to or reduced their stakes in the stock. Triasima Portfolio Management inc. purchased a new position in Pembina Pipeline in the fourth quarter valued at approximately $17,285,000. Legal & General Group Plc increased its stake in Pembina Pipeline by 3.8% in the third quarter. Legal & General Group Plc now owns 4,880,904 shares of the pipeline company’s stock valued at $147,430,000 after purchasing an additional 180,798 shares during the last quarter. Baskin Financial Services Inc. increased its stake in Pembina Pipeline by 5.0% in the fourth quarter. Baskin Financial Services Inc. now owns 196,108 shares of the pipeline company’s stock valued at $6,749,000 after purchasing an additional 9,306 shares during the last quarter. Vanguard Group Inc. increased its stake in Pembina Pipeline by 1.7% in the third quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock valued at $637,949,000 after purchasing an additional 351,266 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Pembina Pipeline by 1.0% in the third quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock valued at $402,538,000 after purchasing an additional 131,487 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

About Pembina Pipeline

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.