Pembina Pipeline (NYSE:PBA) Reaches New 52-Week High – Should You Buy?

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price hit a new 52-week high on Monday . The stock traded as high as $49.11 and last traded at $49.1240, with a volume of 80919 shares traded. The stock had previously closed at $48.99.

Analyst Ratings Changes

PBA has been the topic of several analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research note on Wednesday, April 8th. Royal Bank Of Canada lifted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and an average target price of $62.67.

Pembina Pipeline Stock Up 0.4%

The stock has a market capitalization of $28.59 billion, a P/E ratio of 25.64 and a beta of 0.58. The company’s 50-day moving average price is $44.73 and its 200 day moving average price is $41.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced 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. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. As a group, equities analysts expect that Pembina Pipeline Corp. will post 2.25 earnings per share for the current year.

Pembina Pipeline Increases Dividend

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

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors have recently bought and sold shares of PBA. Vanguard Group Inc. increased its holdings in Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after acquiring an additional 541,615 shares during the last quarter. FIL Ltd increased its holdings in Pembina Pipeline by 2.6% in the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock valued at $532,541,000 after acquiring an additional 359,109 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pembina Pipeline by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock valued at $375,236,000 after acquiring an additional 94,655 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Pembina Pipeline by 17.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after acquiring an additional 1,304,227 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in Pembina Pipeline by 3.9% in the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock valued at $306,634,000 after acquiring an additional 283,513 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

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.