Pembina Pipeline Corp. (PBA) Trading 1.2% Higher
Pembina Pipeline Corp. (NYSE:PBA) shares traded up 1.2% during trading on Tuesday . The stock traded as high as $29.04 and last traded at $28.68, with a volume of 148,524 shares changing hands. The stock had previously closed at $28.34.
Several research analysts recently commented on the stock. Desjardins restated a “top pick” rating on shares of Pembina Pipeline Corp. in a report on Tuesday, April 26th. TheStreet upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a report on Monday, April 25th. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Credit Suisse Group AG restated an “outperform” rating and issued a $40.00 price target on shares of Pembina Pipeline Corp. in a report on Thursday, April 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $41.00 price objective (up previously from $39.00) on shares of Pembina Pipeline Corp. in a research report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Pembina Pipeline Corp. presently has a consensus rating of “Buy” and a consensus price target of $41.18.
The stock has a 50-day moving average price of $29.96 and a 200-day moving average price of $27.26. The stock has a market capitalization of $11.20 billion and a price-to-earnings ratio of 40.71.
Pembina Pipeline Corp. (NYSE:PBA) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.07. The business earned $1.02 billion during the quarter, compared to analysts’ expectations of $1.36 billion. The company’s revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that Pembina Pipeline Corp. will post $0.96 EPS for the current year.
The business also recently declared a jul 16 dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, July 25th will be given a $0.16 dividend. This represents a yield of 4.94%. The ex-dividend date is Thursday, July 21st.
A number of hedge funds recently made changes to their positions in the stock. I.G. Investment Management LTD. boosted its stake in shares of Pembina Pipeline Corp. by 27.1% in the fourth quarter. I.G. Investment Management LTD. now owns 1,286,553 shares of the company’s stock worth $28,048,000 after buying an additional 274,648 shares during the period. State of Wisconsin Investment Board raised its position in Pembina Pipeline Corp. by 45.5% in the fourth quarter. State of Wisconsin Investment Board now owns 398,595 shares of the company’s stock worth $8,651,000 after buying an additional 124,726 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Pembina Pipeline Corp. by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 66,642 shares of the company’s stock worth $1,450,000 after buying an additional 1,714 shares in the last quarter.
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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