Pembina Pipeline (NYSE:PBA) Price Target Increased to $57.00 by Analysts at CIBC

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its target price lifted by analysts at CIBC from $56.00 to $57.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperformer” rating on the pipeline company’s stock. CIBC’s price objective would suggest a potential upside of 63.56% from the company’s previous close.

PBA has been the subject of several other reports. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.00.

Pembina Pipeline Stock Performance

Shares of PBA traded up $0.56 during mid-day trading on Friday, hitting $34.85. 1,035,180 shares of the company’s stock were exchanged, compared to its average volume of 1,052,190. Pembina Pipeline has a fifty-two week low of $28.15 and a fifty-two week high of $36.17. The firm has a market capitalization of $20.19 billion, a P/E ratio of 15.74, a P/E/G ratio of 5.10 and a beta of 1.20. The business’s 50 day moving average is $34.83 and its two-hundred day moving average is $33.46. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.83 billion. On average, equities analysts expect that Pembina Pipeline will post 2.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of Pembina Pipeline by 22.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 329 shares during the last quarter. Harbour Investments Inc. boosted its position in Pembina Pipeline by 36.6% during the second quarter. Harbour Investments Inc. now owns 1,346 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 361 shares during the last quarter. Advisor Partners II LLC boosted its position in Pembina Pipeline by 4.8% during the first quarter. Advisor Partners II LLC now owns 8,437 shares of the pipeline company’s stock worth $273,000 after acquiring an additional 390 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Pembina Pipeline by 1.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,388 shares of the pipeline company’s stock worth $1,143,000 after acquiring an additional 438 shares during the last quarter. Finally, Teamwork Financial Advisors LLC boosted its holdings in shares of Pembina Pipeline by 5.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 9,129 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 462 shares during the last quarter. 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.