TD Securities Lowers Pembina Pipeline (NYSE:PBA) Price Target to $60.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price objective dropped by investment analysts at TD Securities from $65.00 to $60.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. TD Securities’ price target suggests a potential upside of 60.67% from the company’s previous close.

PBA has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Pembina Pipeline Stock Up 1.1%

NYSE PBA opened at $37.34 on Tuesday. The stock has a market cap of $21.70 billion, a PE ratio of 18.67 and a beta of 0.63. The business has a 50 day moving average price of $38.34 and a two-hundred day moving average price of $38.04. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. Pembina Pipeline has a fifty-two week low of $34.13 and a fifty-two week high of $42.40.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The firm had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a net margin of 22.17% and a return on equity of 11.59%. Pembina Pipeline’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, sell-side analysts predict that Pembina Pipeline will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Pembina Pipeline

Institutional investors have recently modified their holdings of the company. JARISLOWSKY FRASER Ltd grew its stake in shares of Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after purchasing an additional 8,372,612 shares in the last quarter. Norges Bank purchased a new position in Pembina Pipeline during the 2nd quarter worth approximately $229,613,000. Goldman Sachs Group Inc. boosted its position in Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock worth $283,770,000 after acquiring an additional 3,108,920 shares during the period. CIBC Asset Management Inc grew its position in Pembina Pipeline by 47.4% during the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock valued at $283,823,000 after purchasing an additional 2,427,939 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Pembina Pipeline by 136.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company’s stock worth $160,681,000 after purchasing an additional 2,307,634 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.