Pembina Pipeline (NYSE:PBA) Reaches New 12-Month High – Here’s Why

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $50.13 and last traded at $49.9350, with a volume of 46383 shares traded. The stock had previously closed at $49.65.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Pembina Pipeline in a research note on Tuesday, June 16th. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, JPMorgan Chase & Co. increased their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has an average rating of “Hold” and a consensus price target of $64.00.

Pembina Pipeline Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $29.02 billion, a P/E ratio of 26.00 and a beta of 0.57. The company has a fifty day simple moving average of $47.58 and a two-hundred day simple moving average of $44.23.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.735 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 5.9%. The ex-dividend date was Monday, June 15th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 110.94%.

Institutional Trading of Pembina Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in PBA. Norges Bank acquired a new stake in shares of Pembina Pipeline during the fourth quarter worth $213,701,000. BCV Asset Management Inc. bought a new position in Pembina Pipeline during the fourth quarter worth about $61,412,000. Morgan Stanley grew its position in shares of Pembina Pipeline by 45.4% during the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock worth $179,763,000 after buying an additional 1,475,320 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at about $52,514,000. Finally, CIBC Asset Management Inc raised its position in shares of Pembina Pipeline by 17.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after acquiring an additional 1,304,227 shares during the period. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

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.