Pembina Pipeline (NYSE:PBA) Reaches New 52-Week High – Time to Buy?

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.49 and last traded at $42.1690, with a volume of 147340 shares traded. The stock had previously closed at $42.25.

Analysts Set New Price Targets

A number of research firms recently issued reports on PBA. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, TD Securities reduced their target price on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Pembina Pipeline Trading Down 0.0%

The business has a 50-day simple moving average of $38.78 and a 200-day simple moving average of $38.39. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The company has a market cap of $24.55 billion, a PE ratio of 21.09 and a beta of 0.68.

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

Institutional Trading of Pembina Pipeline

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after buying an additional 541,615 shares during the last quarter. JARISLOWSKY FRASER Ltd grew its holdings in Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after buying an additional 8,372,612 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Pembina Pipeline by 3.9% during the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after purchasing an additional 283,513 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Pembina Pipeline by 47.4% during the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after purchasing an additional 2,427,939 shares during the last quarter. Finally, Scotia Capital Inc. boosted its position in shares of Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after acquiring an additional 717,773 shares during the last quarter. 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.