Pembina Pipeline Corp. (PBA) Stock Price Up 1.2%
Shares of Pembina Pipeline Corp. (NYSE:PBA) rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $29.04 and last traded at $28.68, with a volume of 148,524 shares trading hands. The stock had previously closed at $28.34.
PBA has been the topic of several recent analyst reports. Credit Suisse Group AG reissued an “outperform” rating and set a $40.00 target price on shares of Pembina Pipeline Corp. in a research note on Thursday, April 7th. TheStreet raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research note on Monday, April 25th. Desjardins reaffirmed a “top pick” rating on shares of Pembina Pipeline Corp. in a research note on Tuesday, April 26th. Zacks Investment Research raised Pembina Pipeline Corp. from a “sell” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, May 3rd. 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 note 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 assigned a strong buy rating to the company’s stock. Pembina Pipeline Corp. presently has an average rating of “Buy” and a consensus target price of $41.18.
The firm has a market capitalization of $11.47 billion and a P/E ratio of 41.74. The stock’s 50-day moving average price is $29.86 and its 200-day moving average price is $27.34.
Pembina Pipeline Corp. (NYSE:PBA) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.07. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Pembina Pipeline Corp.’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts expect that Pembina Pipeline Corp. will post $0.96 earnings per share for the current year.
The company also recently declared a jul 16 dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, July 25th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, July 21st. This represents a yield of 4.94%.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. 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 valued at $1,450,000 after buying an additional 1,714 shares during the last quarter. 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 valued at $8,651,000 after buying an additional 124,726 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its position in 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 valued at $28,048,000 after buying an additional 274,648 shares during 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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