Pembina Pipeline (NYSE:PBA) Sets New 1-Year High – Here’s Why

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.92 and last traded at $45.9690, with a volume of 70173 shares changing hands. The stock had previously closed at $45.62.

Wall Street Analysts Forecast Growth

PBA has been the subject of several recent analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, March 19th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.00.

Pembina Pipeline Price Performance

The company has a 50 day moving average of $43.32 and a two-hundred day moving average of $40.21. The firm has a market cap of $26.62 billion, a P/E ratio of 24.10 and a beta of 0.68. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business earned $0.92 earnings per share. Pembina Pipeline’s revenue for the quarter was down 10.8% compared to the same quarter last year. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.2%. Pembina Pipeline’s dividend payout ratio is currently 109.47%.

Institutional Trading of Pembina Pipeline

A number of large investors have recently added to or reduced their stakes in PBA. Purpose Unlimited Inc. bought a new position in shares of Pembina Pipeline in the fourth quarter valued at $22,201,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Pembina Pipeline by 103.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,535 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 779 shares during the last quarter. Tobam bought a new stake in shares of Pembina Pipeline during the 4th quarter worth $28,000. Beacon Pointe Advisors LLC bought a new stake in shares of Pembina Pipeline during the 4th quarter worth $314,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Pembina Pipeline by 30.0% in the 4th quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock worth $482,000 after acquiring an additional 2,920 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

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.