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

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $50.13 and last traded at $49.9350, with a volume of 46383 shares changing hands. The stock had previously closed at $49.65.

Wall Street Analyst Weigh In

PBA has been the subject of several research analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $68.00 price target on shares of Pembina Pipeline in a report on Friday, July 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pembina Pipeline in a research note on Tuesday, June 16th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Hold” and an average price target of $64.00.

Pembina Pipeline Stock Performance

The stock has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $44.23. The stock has a market cap of $29.02 billion, a P/E ratio of 26.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.Pembina Pipeline’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, equities analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, June 15th. Pembina Pipeline’s dividend payout ratio is 110.94%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $213,701,000. BCV Asset Management Inc. acquired a new stake in Pembina Pipeline in the 4th quarter valued at $61,412,000. Morgan Stanley increased its stake in Pembina Pipeline by 45.4% in the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after buying an additional 1,475,320 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Pembina Pipeline during the 2nd quarter worth about $52,514,000. Finally, CIBC Asset Management Inc lifted its position in Pembina Pipeline by 17.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after buying an additional 1,304,227 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

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.