Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Pembina Pipeline Corp. (NYSE:PBA) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “overweight” rating on the stock.
PBA has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating on shares of Pembina Pipeline Corp. in a report on Thursday, September 8th. Scotiabank restated an “outperform” rating and issued a $44.00 target price on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. TD Securities restated a “buy” rating and issued a $44.00 target price (up previously from $41.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $45.00 target price (up previously from $42.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.75.
Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 30.17 on Thursday. The firm has a market capitalization of $11.83 billion, a P/E ratio of 36.88 and a beta of 0.68. The firm’s 50-day moving average is $30.24 and its 200 day moving average is $29.59. Pembina Pipeline Corp. has a 12 month low of $17.88 and a 12 month high of $32.31.
Pembina Pipeline Corp. (NYSE:PBA) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.05. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $0.09 EPS. Pembina Pipeline Corp.’s revenue for the quarter was down 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Pembina Pipeline Corp. will post $0.89 EPS for the current year.
The business also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 25th will be given a dividend of $0.16 per share. This represents a dividend yield of 4.78%. The ex-dividend date is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio is currently 179.27%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Pembina Pipeline Corp. during the second quarter worth $330,186,000. Legal & General Group Plc increased its position in Pembina Pipeline Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 1,577,210 shares of the company’s stock worth $42,810,000 after buying an additional 95,256 shares in the last quarter. British Columbia Investment Management Corp bought a new position in Pembina Pipeline Corp. during the second quarter worth $1,334,000. K.J. Harrison & Partners Inc increased its position in Pembina Pipeline Corp. by 0.7% in the second quarter. K.J. Harrison & Partners Inc now owns 8,270 shares of the company’s stock worth $250,000 after buying an additional 60 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Pembina Pipeline Corp. by 6.9% in the first quarter. Franklin Resources Inc. now owns 17,403 shares of the company’s stock worth $471,000 after buying an additional 1,128 shares in the last quarter. 46.58% of the stock is owned by hedge funds and other institutional investors.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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