Pembina Pipeline (NYSE:PBA) Sets New 1-Year High at $37.90

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $37.90 and last traded at $37.87, with a volume of 152614 shares changing hands. The stock had previously closed at $37.52.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Scotiabank lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Finally, CIBC raised their price objective on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.00.

Pembina Pipeline Trading Up 0.6 %

The company has a 50 day moving average price of $36.83 and a 200 day moving average price of $35.42. 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 firm has a market cap of $21.90 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 5.39 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 9th. The pipeline company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. On average, research analysts expect that Pembina Pipeline Co. will post 2.33 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $0.501 dividend. The ex-dividend date was 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 yield of 5.31%. Pembina Pipeline’s dividend payout ratio (DPR) is 87.83%.

Institutional Investors Weigh In On Pembina Pipeline

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after purchasing an additional 460,761 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Pembina Pipeline by 1.2% during the fourth quarter. Bank of Nova Scotia now owns 14,837,544 shares of the pipeline company’s stock worth $510,857,000 after acquiring an additional 171,960 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Pembina Pipeline by 5.7% in the 4th quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after acquiring an additional 680,945 shares during the period. ClearBridge Investments Ltd raised its position in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after purchasing an additional 784,814 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Pembina Pipeline by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,062,012 shares of the pipeline company’s stock worth $209,376,000 after purchasing an additional 433,212 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

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.