Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.77 and last traded at $32.57, with a volume of 9172 shares. The stock had previously closed at $32.48.
Several equities research analysts have issued reports on the company. Scotiabank lifted their price target on Pembina Pipeline from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Monday, May 10th. Tudor Pickering reaffirmed a “buy” rating and set a $40.00 price target on shares of Pembina Pipeline in a research note on Tuesday, May 11th. CIBC reaffirmed a “neutral” rating and set a $39.00 price target on shares of Pembina Pipeline in a research note on Thursday, May 13th. Desjardins lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, March 2nd. Finally, Royal Bank of Canada lifted their price target on Pembina Pipeline from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, May 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.60.
The firm has a market cap of $18.15 billion, a P/E ratio of -47.14, a PEG ratio of 3.27 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.67. The stock’s fifty day moving average price is $30.99.
The firm also recently declared a monthly dividend, which will be paid on Thursday, July 15th. Investors of record on Friday, June 25th will be issued a dividend of $0.1734 per share. This represents a $2.08 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Thursday, June 24th. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.17. Pembina Pipeline’s payout ratio is currently 86.39%.
A number of large investors have recently made changes to their positions in PBA. Norges Bank purchased a new position in Pembina Pipeline during the 4th quarter valued at about $85,157,000. ClearBridge Investments Ltd bought a new stake in Pembina Pipeline during the 1st quarter valued at approximately $92,586,000. Tortoise Capital Advisors L.L.C. boosted its position in Pembina Pipeline by 516.8% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 3,560,138 shares of the pipeline company’s stock valued at $102,807,000 after acquiring an additional 2,982,958 shares in the last quarter. FIL Ltd boosted its position in Pembina Pipeline by 18.4% during the 1st quarter. FIL Ltd now owns 14,745,600 shares of the pipeline company’s stock valued at $425,929,000 after acquiring an additional 2,296,314 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Pembina Pipeline by 978.3% during the 1st quarter. Russell Investments Group Ltd. now owns 2,525,538 shares of the pipeline company’s stock valued at $72,940,000 after acquiring an additional 2,291,329 shares in the last quarter. Institutional investors own 55.14% of the company’s stock.
About Pembina Pipeline (NYSE:PBA)
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 3.1 millions of barrels of oil equivalent per day, ground storage of 11 millions of barrels, and rail terminalling capacity of approximately 145 thousands of barrels of oil equivalent per day serving markets and basins across North America.
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