Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Target Price at $60.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $60.00.

A number of brokerages have recently commented on PBA. Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday, December 29th. TD Securities cut their target price on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th.

Pembina Pipeline Stock Up 1.2%

PBA stock opened at $41.68 on Friday. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 20.84 and a beta of 0.66. Pembina Pipeline has a twelve month low of $34.13 and a twelve month high of $42.40. The business has a 50 day moving average price of $38.42 and a two-hundred day moving average price of $38.24. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $911.47 million during the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a net margin of 22.17% and a return on equity of 11.59%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Analysts anticipate that Pembina Pipeline will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Monday, December 15th. Pembina Pipeline’s dividend payout ratio is 101.50%.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors and hedge funds have recently modified their holdings of PBA. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth about $31,000. Westside Investment Management Inc. raised its holdings in Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 404 shares during the period. Physician Wealth Advisors Inc. lifted its position in Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 750 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Pembina Pipeline during the third quarter worth approximately $40,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 259 shares during the period. 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.