Pembina Pipeline (NYSE:PBA) Price Target Raised to $60.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its target price lifted by JPMorgan Chase & Co. from $55.00 to $60.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 34.47% from the company’s previous close.

PBA has been the subject of a number of other reports. Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. Finally, TD Securities cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Pembina Pipeline Trading Up 1.9%

Shares of NYSE PBA traded up $0.84 during midday trading on Thursday, hitting $44.62. The company’s stock had a trading volume of 1,300,140 shares, compared to its average volume of 1,466,016. Pembina Pipeline has a 12-month low of $34.13 and a 12-month high of $45.09. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a market cap of $25.93 billion, a P/E ratio of 23.48 and a beta of 0.68. The business’s 50 day moving average is $42.26 and its two-hundred day moving average is $39.85.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.Pembina Pipeline’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, equities research analysts expect that Pembina Pipeline will post 2.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBA. Tobam bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the third quarter valued at approximately $31,000. Westside Investment Management Inc. increased its holdings in Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after buying 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 valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. raised its stake in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock worth $37,000 after buying an additional 750 shares in 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.