Pembina Pipeline Corp. (PBA) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
A number of other analysts have also weighed in on PBA. Credit Suisse Group AG lowered shares of Pembina Pipeline Corp. from an outperform rating to a neutral rating in a research note on Monday, June 20th. GMP Securities reiterated a buy rating on shares of Pembina Pipeline Corp. in a research note on Monday, June 27th. National Bank Financial lowered shares of Pembina Pipeline Corp. from an outperform rating to a sector perform rating in a research note on Monday, July 18th. RBC Capital Markets reiterated an outperform rating and issued a $45.00 price target (up from $42.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. Finally, TD Securities reiterated a buy rating and issued a $44.00 price target (up from $41.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $41.75.
Pembina Pipeline Corp. (NYSE:PBA) traded up 0.0183% during mid-day trading on Tuesday, reaching $29.9855. 37,897 shares of the company’s stock traded hands. Pembina Pipeline Corp. has a 12-month low of $17.88 and a 12-month high of $32.31. The stock has a 50 day moving average of $30.26 and a 200 day moving average of $29.58. The company has a market cap of $11.75 billion, a P/E ratio of 36.6571 and a beta of 0.68.
Pembina Pipeline Corp. (NYSE:PBA) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.50 billion. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts predict that Pembina Pipeline Corp. will post $0.89 earnings per share for the current fiscal year.
The business also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 25th will be issued a $0.16 dividend. This represents a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is presently 179.27%.
Several institutional investors have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $137,000. Linscomb & Williams Inc. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $209,000. Capital Fund Management S.A. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $215,000. Advisor Group Inc. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $235,000. Finally, IFP Advisors Inc increased its stake in Pembina Pipeline Corp. by 11.3% in the second quarter. IFP Advisors Inc now owns 7,946 shares of the company’s stock worth $241,000 after buying an additional 804 shares during the last quarter. 46.58% of the stock is currently owned by hedge funds and other institutional investors.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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