Pembina Pipeline Corp (PBA) Stock Rating Lowered by Zacks Investment Research
Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Several other brokerages have also commented on PBA. Desjardins lowered shares of Pembina Pipeline Corp from a “top pick” rating to a “buy” rating in a research report on Monday, February 27th. AltaCorp Capital reaffirmed an “outperform” rating on shares of Pembina Pipeline Corp in a research report on Wednesday, May 3rd. Finally, National Bank Financial raised shares of Pembina Pipeline Corp from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Pembina Pipeline Corp presently has an average rating of “Buy” and an average price target of $42.75.
Shares of Pembina Pipeline Corp (NYSE:PBA) opened at 31.55 on Wednesday. The stock has a 50 day moving average of $32.19 and a 200-day moving average of $31.33. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 33.82 and a beta of 0.72. Pembina Pipeline Corp has a 52 week low of $27.44 and a 52 week high of $33.52.
Pembina Pipeline Corp (NYSE:PBA) last announced its quarterly earnings data on Thursday, February 23rd. The pipeline company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.02 billion. Pembina Pipeline Corp had a net margin of 10.94% and a return on equity of 6.96%. Pembina Pipeline Corp’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. On average, analysts anticipate that Pembina Pipeline Corp will post $1.33 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be given a $0.124 dividend. This is a positive change from Pembina Pipeline Corp’s previous monthly dividend of $0.12. This represents a $1.49 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Tuesday, May 23rd. Pembina Pipeline Corp’s dividend payout ratio (DPR) is presently 181.01%.
A number of institutional investors have recently bought and sold shares of PBA. Van ECK Associates Corp raised its position in Pembina Pipeline Corp by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,405 shares of the pipeline company’s stock worth $108,000 after buying an additional 520 shares in the last quarter. Advantage Investment Management LLC acquired a new position in Pembina Pipeline Corp during the fourth quarter worth about $111,000. Envestnet Asset Management Inc. raised its position in Pembina Pipeline Corp by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,801 shares of the pipeline company’s stock worth $120,000 after buying an additional 335 shares in the last quarter. Huntington National Bank raised its position in Pembina Pipeline Corp by 7.6% in the first quarter. Huntington National Bank now owns 4,803 shares of the pipeline company’s stock worth $152,000 after buying an additional 341 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new position in Pembina Pipeline Corp during the third quarter worth about $211,000. 46.14% of the stock is owned by institutional investors.
About Pembina Pipeline Corp
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
Receive News & Stock Ratings for Pembina Pipeline Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline Corp and related stocks with our FREE daily email newsletter.