Pembina Pipeline (NYSE:PBA) Shares Down 1.2%

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) dropped 1.2% during mid-day trading on Wednesday . The stock traded as low as $36.63 and last traded at $36.68. Approximately 136,894 shares were traded during trading, a decline of 87% from the average daily volume of 1,032,752 shares. The stock had previously closed at $37.13.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Scotiabank downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday. CIBC boosted their target price on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a report on Friday, April 19th. Finally, StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.00.

Pembina Pipeline Trading Down 1.6 %

The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 5.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. The company has a 50 day moving average price of $35.56 and a two-hundred day moving average price of $34.44.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, research analysts forecast that Pembina Pipeline Co. will post 2.27 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $0.501 dividend. The ex-dividend date is Monday, June 17th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.48%. Pembina Pipeline’s payout ratio is currently 85.65%.

Hedge Funds Weigh In On Pembina Pipeline

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Pembina Pipeline by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after acquiring an additional 460,761 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Pembina Pipeline by 1.2% in the fourth quarter. Bank of Nova Scotia now owns 14,837,544 shares of the pipeline company’s stock valued at $510,857,000 after purchasing an additional 171,960 shares during the period. Deutsche Bank AG grew its stake in Pembina Pipeline by 1.0% during the 3rd quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after purchasing an additional 131,487 shares in the last quarter. Mackenzie Financial Corp increased its stake in Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after purchasing an additional 680,945 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Pembina Pipeline by 8.3% during the 3rd quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after buying an additional 593,061 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. 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 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.