Pembina Pipeline (NYSE:PBA) Hits New 1-Year High – Here’s Why

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.49 and last traded at $42.1690, with a volume of 147340 shares changing hands. The stock had previously closed at $42.25.

Analysts Set New Price Targets

Several research firms have commented on PBA. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, December 16th. TD Securities decreased their price target on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Pembina Pipeline Price Performance

The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 21.35 and a beta of 0.68. The company’s 50 day moving average is $38.93 and its 200 day moving average is $38.46. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The business had revenue of $911.47 million during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.60 EPS. Pembina Pipeline’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pembina Pipeline

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after acquiring an additional 541,615 shares during the period. JARISLOWSKY FRASER Ltd grew its holdings in shares of Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after purchasing an additional 8,372,612 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Pembina Pipeline by 3.9% during the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after purchasing an additional 283,513 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Pembina Pipeline by 47.4% in the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after purchasing an additional 2,427,939 shares during the period. Finally, Scotia Capital Inc. raised its stake in Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock valued at $258,724,000 after purchasing an additional 717,773 shares in the last quarter. 55.37% of the stock is currently owned by 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.