Pembina Pipeline Corp. (NYSE:PBA) Stock Has Average Price Target of $64.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.00.

PBA has been the subject of a number of research reports. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 18th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Finally, Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $45.92 on Thursday. The firm’s fifty day simple moving average is $47.92 and its 200-day simple moving average is $47.11. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 22.51 and a beta of 0.62. Pembina Pipeline has a 12 month low of $36.20 and a 12 month high of $51.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities analysts forecast that Pembina Pipeline will post 2.2 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a C$0.73 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.4%. Pembina Pipeline’s payout ratio is presently 103.92%.

Institutional Investors Weigh In On Pembina Pipeline

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Pembina Pipeline by 23.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,187 shares of the pipeline company’s stock valued at $97,000 after buying an additional 418 shares during the last quarter. Tidal Investments LLC increased its stake in Pembina Pipeline by 5.8% in the 2nd quarter. Tidal Investments LLC now owns 38,858 shares of the pipeline company’s stock valued at $1,797,000 after buying an additional 2,145 shares during the period. M.E. Allison & CO. Inc. raised its position in Pembina Pipeline by 4.9% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 7,815 shares of the pipeline company’s stock worth $361,000 after buying an additional 365 shares during the last quarter. Cidel Asset Management Inc. raised its position in Pembina Pipeline by 22.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 307,057 shares of the pipeline company’s stock worth $14,202,000 after buying an additional 55,401 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Pembina Pipeline during the 2nd quarter worth $33,000. 55.37% of the stock is owned by institutional investors and hedge funds.

About Pembina Pipeline

Pembina Pipeline Corporation is a Canadian energy infrastructure company that provides transportation and midstream services for the oil, natural gas and natural gas liquids industries. Its operations are focused primarily on Western Canada, where it connects hydrocarbon-producing regions with processing facilities, storage sites, refineries, petrochemical markets and export channels.

The company owns and operates an extensive network of pipelines and related infrastructure. Its services include hydrocarbon gathering and transportation, natural gas processing, fractionation and storage of natural gas liquids, terminalling and rail services.