Pembina Pipeline Corp. (PBA) Raised to “Hold” at Zacks Investment Research
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
PBA has been the topic of a number of other reports. TD Securities reaffirmed a buy rating and issued a $44.00 price target (up from $41.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. Canaccord Genuity reissued a buy rating on shares of Pembina Pipeline Corp. in a research note on Thursday, September 8th. RBC Capital Markets reissued an outperform rating and issued a $45.00 target price (up from $42.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. GMP Securities reissued a buy rating on shares of Pembina Pipeline Corp. in a research note on Monday, June 27th. Finally, Credit Suisse Group AG lowered shares of Pembina Pipeline Corp. from an outperform rating to a neutral rating in a research note on Monday, June 20th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $41.75.
Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 30.61 on Tuesday. The company has a 50 day moving average price of $30.24 and a 200-day moving average price of $29.59. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 37.42 and a beta of 0.68. Pembina Pipeline Corp. has a one year low of $17.88 and a one year high of $32.31.
Pembina Pipeline Corp. (NYSE:PBA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. The company earned $1.03 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The company’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Equities analysts predict that Pembina Pipeline Corp. will post $0.89 earnings per share for the current fiscal year.
The business also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be issued a $0.16 dividend. The ex-dividend date is Friday, October 21st. This represents a yield of 4.78%. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is presently 179.27%.
Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in Pembina Pipeline Corp. during the second quarter valued at $330,186,000. Legal & General Group Plc increased its stake in Pembina Pipeline Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 1,577,210 shares of the company’s stock valued at $42,810,000 after buying an additional 95,256 shares during the period. British Columbia Investment Management Corp bought a new stake in Pembina Pipeline Corp. during the second quarter valued at $1,334,000. K.J. Harrison & Partners Inc increased its stake in Pembina Pipeline Corp. by 0.7% in the second quarter. K.J. Harrison & Partners Inc now owns 8,270 shares of the company’s stock valued at $250,000 after buying an additional 60 shares during the period. Finally, Franklin Resources Inc. increased its stake in Pembina Pipeline Corp. by 6.9% in the first quarter. Franklin Resources Inc. now owns 17,403 shares of the company’s stock valued at $471,000 after buying an additional 1,128 shares during the period. Hedge funds and other institutional investors own 46.58% of the company’s stock.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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