Pembina Pipeline Corp. (PBA) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
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. “
Other analysts also recently issued reports about the company. BidaskClub upgraded Pembina Pipeline Corp. from a sell rating to a hold rating in a report on Tuesday, June 27th. AltaCorp Capital upgraded Pembina Pipeline Corp. from a sector perform rating to an outperform rating in a report on Wednesday, July 19th. Finally, National Bank Financial upgraded Pembina Pipeline Corp. from a sector perform rating to an outperform rating in a report on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $43.50.
Pembina Pipeline Corp. (NYSE PBA) traded down 0.57% during midday trading on Tuesday, hitting $32.94. The stock had a trading volume of 248,354 shares. The company’s 50-day moving average price is $33.48 and its 200 day moving average price is $32.42. The company has a market capitalization of $13.27 billion, a PE ratio of 32.29 and a beta of 0.71. Pembina Pipeline Corp. has a 52 week low of $27.44 and a 52 week high of $34.97.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.08. Pembina Pipeline Corp. had a return on equity of 8.59% and a net margin of 12.12%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. On average, analysts expect that Pembina Pipeline Corp. will post $1.36 EPS for the current year.
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The firm also recently declared a aug 17 dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a yield of 4.85%. Pembina Pipeline Corp.’s payout ratio is currently 161.86%.
Hedge funds have recently modified their holdings of the stock. AMF Pensionsforsakring AB increased its stake in shares of Pembina Pipeline Corp. by 2.4% in the first quarter. AMF Pensionsforsakring AB now owns 212,748 shares of the pipeline company’s stock valued at $6,722,000 after buying an additional 4,959 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Pembina Pipeline Corp. by 18.9% in the first quarter. Miller Howard Investments Inc. NY now owns 983,305 shares of the pipeline company’s stock valued at $31,181,000 after buying an additional 156,453 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Pembina Pipeline Corp. by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 7,578 shares of the pipeline company’s stock valued at $240,000 after buying an additional 128 shares in the last quarter. Korea Investment CORP purchased a new stake in shares of Pembina Pipeline Corp. during the first quarter valued at approximately $1,310,000. Finally, CAPROCK Group Inc. increased its stake in shares of Pembina Pipeline Corp. by 7.5% in the first quarter. CAPROCK Group Inc. now owns 9,944 shares of the pipeline company’s stock valued at $315,000 after buying an additional 695 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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