Pembina Pipeline Corp. (NYSE:PBA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.00.

Several research firms recently issued reports on PBA. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th.

Pembina Pipeline Stock Performance

Shares of PBA opened at $48.42 on Friday. The company’s fifty day moving average is $48.77 and its 200-day moving average is $46.77. Pembina Pipeline has a 12 month low of $36.20 and a 12 month high of $51.58. The firm has a market cap of $28.16 billion, a price-to-earnings ratio of 23.74 and a beta of 0.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. Equities analysts expect that Pembina Pipeline will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.1%. Pembina Pipeline’s dividend payout ratio (DPR) is 104.41%.

Institutional Investors Weigh In On Pembina Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of PBA. FIL Ltd boosted 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 purchasing an additional 359,109 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Pembina Pipeline by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock valued at $375,236,000 after buying an additional 94,655 shares during the period. CIBC Asset Management Inc grew its position in 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 worth $329,245,000 after buying an additional 1,304,227 shares in the last quarter. Scotia Capital Inc. grew its position in Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after buying an additional 717,773 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Pembina Pipeline during the second quarter valued at about $285,738,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

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.