Pembina Pipeline (NYSE:PBA) Reaches New 12-Month High – Should You Buy?

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) reached a new 52-week high during trading on Monday . The stock traded as high as $44.90 and last traded at $44.8250, with a volume of 170294 shares changing hands. The stock had previously closed at $43.99.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PBA. Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. TD Securities downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Trading Down 1.2%

The firm’s 50-day simple moving average is $40.79 and its 200 day simple moving average is $39.34. The stock has a market cap of $25.84 billion, a P/E ratio of 23.40 and a beta of 0.68. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.15% and a net margin of 21.76%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, March 16th. Pembina Pipeline’s payout ratio is currently 106.84%.

Hedge Funds Weigh In On Pembina Pipeline

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd raised its stake in shares of Pembina Pipeline by 1,894.9% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after buying an additional 8,372,612 shares in the last quarter. Norges Bank bought a new stake in Pembina Pipeline in the second quarter worth about $229,613,000. CIBC Asset Management Inc raised its position in Pembina Pipeline by 47.4% in the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after acquiring an additional 2,427,939 shares in the last quarter. BCV Asset Management Inc. acquired a new stake in Pembina Pipeline in the 4th quarter valued at about $61,412,000. Finally, Morgan Stanley boosted its position in shares of Pembina Pipeline by 45.4% during the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after purchasing an additional 1,475,320 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.