Pembina Pipeline (NYSE:PBA) Reaches New 12-Month High – Still a Buy?

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.56 and last traded at $51.4320, with a volume of 945042 shares. The stock had previously closed at $51.29.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PBA shares. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings lowered Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline Trading Down 0.1%

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 $29.79 billion, a P/E ratio of 26.69 and a beta of 0.57. The business has a 50-day moving average price of $48.00 and a two-hundred day moving average price of $44.59.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.735 per share. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a dividend yield of 5.7%. Pembina Pipeline’s payout ratio is presently 110.94%.

Institutional Investors Weigh In On Pembina Pipeline

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its holdings in shares of Pembina Pipeline by 1.0% during the fourth quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after purchasing an additional 248 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the period. Ethic Inc. grew its position in shares of Pembina Pipeline by 2.0% during the 4th quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after buying an additional 278 shares during the last quarter. Broderick Brian C grew its position in shares of Pembina Pipeline by 0.9% during the 1st quarter. Broderick Brian C now owns 32,823 shares of the pipeline company’s stock valued at $1,469,000 after buying an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Pembina Pipeline by 3.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock worth $372,000 after acquiring an additional 341 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

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.