Pembina Pipeline (NYSE:PBA) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Pembina Pipeline (NYSE:PBA) (TSE:PPL) issued its quarterly earnings results on Thursday. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14), Zacks reports. The company had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a return on equity of 12.27% and a net margin of 23.24%.Pembina Pipeline’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share.

Pembina Pipeline Trading Down 2.8%

Shares of PBA stock traded down $1.05 during trading hours on Friday, reaching $37.12. 2,197,973 shares of the stock traded hands, compared to its average volume of 1,350,531. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $21.57 billion, a PE ratio of 17.43 and a beta of 0.75. Pembina Pipeline has a 1-year low of $34.13 and a 1-year high of $43.44. The business has a fifty day moving average price of $38.88 and a 200 day moving average price of $37.93.

Pembina Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, December 15th. Pembina Pipeline’s dividend payout ratio (DPR) is 96.71%.

Institutional Investors Weigh In On Pembina Pipeline

A number of institutional investors have recently bought and sold shares of the business. Cresset Asset Management LLC raised its holdings in Pembina Pipeline by 4.1% during the second quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock valued at $513,000 after buying an additional 534 shares in the last quarter. State of Wyoming bought a new stake in shares of Pembina Pipeline during the 2nd quarter worth $58,000. Headlands Technologies LLC acquired a new position in Pembina Pipeline in the 2nd quarter valued at $104,000. AXA S.A. raised its holdings in Pembina Pipeline by 17.5% in the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after acquiring an additional 3,488 shares during the period. Finally, Marshall Wace LLP acquired a new position in Pembina Pipeline during the 2nd quarter worth $253,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PBA. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. Raymond James Financial reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Jefferies Financial Group cut Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

About Pembina Pipeline

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.