Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Price Target at $64.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have received an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $64.00.

PBA has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Weiss Ratings raised Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th.

Institutional Investors Weigh In On Pembina Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC acquired a new position in shares of Pembina Pipeline in the first quarter valued at about $25,000. Tobam bought a new position in Pembina Pipeline during the fourth quarter worth about $28,000. Dunhill Financial LLC acquired a new stake in Pembina Pipeline in the 2nd quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new stake in Pembina Pipeline in the 2nd quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Pembina Pipeline in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.4%

PBA stock opened at $49.35 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company has a fifty day moving average price of $48.41 and a two-hundred day moving average price of $46.25. Pembina Pipeline has a one year low of $36.20 and a one year high of $51.58. The stock has a market cap of $28.70 billion, a price-to-earnings ratio of 24.19 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Equities analysts anticipate that Pembina Pipeline will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is currently 102.45%.

About Pembina Pipeline

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.