Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Target Price at $62.67

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $62.6667.

Several research firms have recently issued reports on PBA. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on shares of Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, March 19th. Royal Bank Of Canada increased their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Pembina Pipeline in a report on Tuesday, June 16th. Finally, Wall Street Zen lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBA. Western Wealth Management LLC acquired a new position in Pembina Pipeline in the first quarter worth approximately $25,000. Tobam acquired a new position in shares of Pembina Pipeline in the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline in the third quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Pembina Pipeline in the fourth quarter worth about $36,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.1%

Pembina Pipeline stock opened at $47.18 on Tuesday. The firm has a 50 day simple moving average of $46.78 and a 200-day simple moving average of $43.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The stock has a market capitalization of $27.43 billion, a PE ratio of 24.57 and a beta of 0.57. Pembina Pipeline has a 12-month low of $35.45 and a 12-month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. As a group, equities research analysts expect that Pembina Pipeline will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 6.2%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 110.94%.

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.