Pembina Pipeline Corp. (PBA) Lifted to Hold at Zacks Investment Research
Pembina Pipeline Corp. (NYSE:PBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
Several other research firms also recently issued reports on PBA. Canaccord Genuity reaffirmed a “buy” rating on shares of Pembina Pipeline Corp. in a research note on Thursday, September 8th. Credit Suisse Group AG cut Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a report on Monday, June 20th. National Bank Financial cut Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a report on Monday, July 18th. RBC Capital Markets reiterated an “outperform” rating and issued a $45.00 target price (up from $42.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Finally, Scotiabank reiterated an “outperform” rating and issued a $44.00 target price on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Pembina Pipeline Corp. has an average rating of “Buy” and an average price target of $41.75.
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Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 30.59 on Tuesday. The stock has a 50 day moving average of $30.27 and a 200-day moving average of $29.58. The firm has a market capitalization of $11.99 billion, a P/E ratio of 37.12 and a beta of 0.68. Pembina Pipeline Corp. has a 12-month low of $17.88 and a 12-month high of $32.31.
Pembina Pipeline Corp. (NYSE:PBA) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The firm earned $1.03 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $0.09 EPS. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, equities research analysts predict that Pembina Pipeline Corp. will post $0.89 EPS for the current fiscal year.
The company also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be issued a $0.16 dividend. This represents a dividend yield of 4.78%. The ex-dividend date is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio is currently 179.27%.
Several institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. boosted its position in shares of Pembina Pipeline Corp. by 17.3% in the first quarter. 1832 Asset Management L.P. now owns 10,924,908 shares of the company’s stock worth $489,370,000 after buying an additional 1,610,362 shares in the last quarter. Bank of Montreal Can bought a new stake in Pembina Pipeline Corp. during the second quarter worth approximately $330,186,000. Vanguard Group Inc. raised its stake in Pembina Pipeline Corp. by 15.6% in the second quarter. Vanguard Group Inc. now owns 8,234,115 shares of the company’s stock worth $249,823,000 after buying an additional 1,111,679 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Pembina Pipeline Corp. by 3.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,724,473 shares of the company’s stock worth $233,513,000 after buying an additional 286,405 shares during the last quarter. Finally, CIBC World Markets Inc. raised its stake in Pembina Pipeline Corp. by 3.4% in the second quarter. CIBC World Markets Inc. now owns 5,868,661 shares of the company’s stock worth $178,055,000 after buying an additional 192,546 shares during the last quarter. Institutional investors own 46.58% of the company’s stock.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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