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

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) shares hit a new 52-week high during trading on Monday . The company traded as high as $44.90 and last traded at $44.8250, with a volume of 170294 shares. The stock had previously closed at $43.99.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PBA. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday. Finally, TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. The stock has a market capitalization of $26.03 billion, a PE ratio of 23.52 and a beta of 0.68. The stock’s 50 day moving average is $40.50 and its two-hundred day moving average is $39.22.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.15% and a net margin of 21.76%.The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.3%. Pembina Pipeline’s payout ratio is presently 106.84%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pembina Pipeline in the third quarter valued at approximately $31,000. Westside Investment Management Inc. grew its holdings in shares of Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Pembina Pipeline during the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. grew its stake in shares of Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after buying an additional 750 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth approximately $40,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Company Profile

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.