Pembina Pipeline Corp. (PBA) Expected to Post Quarterly Sales of $1.03 Billion
Wall Street brokerages expect Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) to report sales of $1.03 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Pembina Pipeline Corp.’s earnings, with the lowest sales estimate coming in at $949.73 million and the highest estimate coming in at $1.12 billion. Pembina Pipeline Corp. posted sales of $796.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.3%. The firm is expected to issue its next earnings results after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Pembina Pipeline Corp. will report full-year sales of $1.03 billion for the current fiscal year, with estimates ranging from $4.34 billion to $4.84 billion. For the next year, analysts forecast that the business will post sales of $6.17 billion per share, with estimates ranging from $5.10 billion to $7.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Pembina Pipeline Corp..
Several research analysts recently issued reports on PBA shares. Zacks Investment Research raised shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Saturday, May 20th. Desjardins lowered shares of Pembina Pipeline Corp. from a “top pick” rating to a “buy” rating in a research report on Monday, February 27th. AltaCorp Capital restated an “outperform” rating on shares of Pembina Pipeline Corp. in a research report on Wednesday, May 3rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $42.50.
Pembina Pipeline Corp. (NYSE PBA) traded up 1.28% during trading on Friday, hitting $32.42. The company’s stock had a trading volume of 548,549 shares. The firm has a market cap of $13.00 billion, a PE ratio of 33.95 and a beta of 0.67. Pembina Pipeline Corp. has a one year low of $27.44 and a one year high of $33.56. The company has a 50-day moving average of $32.29 and a 200 day moving average of $31.92.
The firm also recently declared a jun 17 dividend, which will be paid on Saturday, July 15th. Stockholders of record on Sunday, June 25th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a dividend yield of 4.61%. Pembina Pipeline Corp.’s dividend payout ratio is presently 155.67%.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia raised its stake in Pembina Pipeline Corp. by 14.3% in the first quarter. Bank of Nova Scotia now owns 1,672,575 shares of the pipeline company’s stock valued at $53,003,000 after buying an additional 209,184 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Pembina Pipeline Corp. by 18.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,000 shares of the pipeline company’s stock worth $600,000 after buying an additional 2,900 shares during the period. HighTower Advisors LLC raised its stake in shares of Pembina Pipeline Corp. by 1.2% in the first quarter. HighTower Advisors LLC now owns 7,730 shares of the pipeline company’s stock worth $245,000 after buying an additional 93 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Pembina Pipeline Corp. during the first quarter worth about $300,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Pembina Pipeline Corp. during the first quarter worth about $755,000. Institutional investors and hedge funds own 45.89% of the company’s stock.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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