Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $39.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.72% from the stock’s previous close.

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. “

Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. 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 equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $43.50.

Pembina Pipeline Corp. (NYSE PBA) opened at 34.60 on Friday. Pembina Pipeline Corp. has a 1-year low of $27.44 and a 1-year high of $34.97. The firm’s 50-day moving average is $33.01 and its 200-day moving average is $32.23. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 34.43 and a beta of 0.71.

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Several hedge funds and other institutional investors have recently modified their holdings of PBA. Dimensional Fund Advisors LP raised its position in shares of Pembina Pipeline Corp. by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 107,905 shares of the pipeline company’s stock valued at $3,380,000 after buying an additional 23,692 shares during the period. Guggenheim Capital LLC raised its position in shares of Pembina Pipeline Corp. by 15.6% in the fourth quarter. Guggenheim Capital LLC now owns 99,650 shares of the pipeline company’s stock valued at $3,119,000 after buying an additional 13,465 shares during the period. AQR Capital Management LLC acquired a new position in shares of Pembina Pipeline Corp. during the fourth quarter valued at about $631,000. UBS Asset Management Americas Inc. raised its position in shares of Pembina Pipeline Corp. by 9.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 917,631 shares of the pipeline company’s stock valued at $28,712,000 after buying an additional 81,410 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in shares of Pembina Pipeline Corp. by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 121,284 shares of the pipeline company’s stock valued at $3,837,000 after buying an additional 1,900 shares during the period. 46.23% of the stock is currently owned by institutional investors.

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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