Pembina Pipeline (NYSE:PBA) Sets New 52-Week High – Here’s Why

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.92 and last traded at $45.9690, with a volume of 70173 shares changing hands. The stock had previously closed at $45.62.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of research analyst reports. TD Securities cut Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. lifted their target price on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Finally, Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Price Performance

The company’s 50-day simple moving average is $43.03 and its 200-day simple moving average is $40.11. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 24.18 and a beta of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. Research analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.2%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 109.47%.

Institutional Investors Weigh In On Pembina Pipeline

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new stake in Pembina Pipeline in the 1st quarter worth about $374,000. Focus Partners Wealth acquired a new position in shares of Pembina Pipeline during the 1st quarter worth approximately $312,000. Cetera Investment Advisers increased its holdings in shares of Pembina Pipeline by 13.3% during the second quarter. Cetera Investment Advisers now owns 54,712 shares of the pipeline company’s stock worth $2,052,000 after purchasing an additional 6,423 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Pembina Pipeline by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 3,363,809 shares of the pipeline company’s stock worth $126,176,000 after purchasing an additional 8,574 shares during the period. Finally, MAI Capital Management raised its position in shares of Pembina Pipeline by 2.9% in the second quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock valued at $400,000 after buying an additional 302 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

About Pembina Pipeline

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.