Analysts Set Pembina Pipeline Corp. (NYSE:PBA) PT at $60.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $60.00.

PBA has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. TD Securities decreased their price target on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, Zacks Research downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 24th.

Pembina Pipeline Trading Down 1.5%

Shares of PBA opened at $37.98 on Tuesday. Pembina Pipeline has a twelve month low of $34.13 and a twelve month high of $42.40. The firm has a market capitalization of $22.07 billion, a P/E ratio of 18.99 and a beta of 0.66. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $38.17 and its 200 day simple moving average is $38.05.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The firm had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that Pembina Pipeline will post 2.15 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.71 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.5%. Pembina Pipeline’s dividend payout ratio (DPR) is 101.50%.

Hedge Funds Weigh In On Pembina Pipeline

Several hedge funds and other institutional investors have recently bought and sold shares of PBA. JARISLOWSKY FRASER Ltd grew its position in Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after acquiring an additional 8,372,612 shares in the last quarter. Norges Bank acquired a new stake in Pembina Pipeline during the 2nd quarter valued at $229,613,000. Goldman Sachs Group Inc. grew its holdings in Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock valued at $283,770,000 after purchasing an additional 3,108,920 shares in the last quarter. CIBC Asset Management Inc increased its stake in Pembina Pipeline by 47.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after buying an additional 2,427,939 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in Pembina Pipeline in the 2nd quarter worth $52,514,000. 55.37% of the stock is owned by institutional investors and hedge funds.

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.