FY2017 Earnings Estimate for Pembina Pipeline Corp. (PBA) Issued By Cormark
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) – Stock analysts at Cormark cut their FY2017 earnings per share estimates for Pembina Pipeline Corp. in a report released on Monday. Cormark analyst B. Watson now forecasts that the pipeline company will post earnings of $1.33 per share for the year, down from their prior estimate of $1.51. Cormark also issued estimates for Pembina Pipeline Corp.’s Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $2.07 EPS.
A number of other brokerages also recently issued reports on PBA. Zacks Investment Research raised shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, July 21st. BidaskClub raised shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, AltaCorp Capital raised shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.00.
Shares of Pembina Pipeline Corp. (PBA) opened at $35.44 on Tuesday. Pembina Pipeline Corp. has a fifty-two week low of $27.44 and a fifty-two week high of $35.63. The stock has a market cap of $17,490.84, a PE ratio of 35.16 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.78 and a quick ratio of 0.60.
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 25th will be paid a $0.144 dividend. This is an increase from Pembina Pipeline Corp.’s previous monthly dividend of $0.14. This represents a $1.73 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Tuesday, October 24th. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is currently 174.75%.
A number of institutional investors and hedge funds have recently made changes to their positions in PBA. CIBC Asset Management Inc raised its stake in Pembina Pipeline Corp. by 64.6% in the third quarter. CIBC Asset Management Inc now owns 7,100,744 shares of the pipeline company’s stock valued at $248,486,000 after purchasing an additional 2,787,001 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Pembina Pipeline Corp. by 133.4% in the second quarter. The Manufacturers Life Insurance Company now owns 3,121,883 shares of the pipeline company’s stock valued at $103,718,000 after purchasing an additional 1,784,451 shares in the last quarter. Bank of Montreal Can raised its stake in Pembina Pipeline Corp. by 13.9% in the second quarter. Bank of Montreal Can now owns 12,169,430 shares of the pipeline company’s stock valued at $403,051,000 after purchasing an additional 1,488,648 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Pembina Pipeline Corp. in the third quarter valued at approximately $41,290,000. Finally, Kayne Anderson Capital Advisors LP raised its stake in Pembina Pipeline Corp. by 199.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,737,700 shares of the pipeline company’s stock valued at $57,545,000 after purchasing an additional 1,157,700 shares in the last quarter. 50.28% of the stock is currently owned by institutional investors and hedge funds.
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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