Pembina Pipeline (NYSE:PBA) Sets New 12-Month High – Still a Buy?

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.59 and last traded at $43.17, with a volume of 1123744 shares traded. The stock had previously closed at $43.13.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PBA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. TD Securities decreased their price objective on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Pembina Pipeline Price Performance

The company’s 50-day simple moving average is $39.11 and its 200 day simple moving average is $38.57. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 21.59 and a beta of 0.68.

Institutional Trading of Pembina Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Pembina Pipeline by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after buying an additional 541,615 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its stake in Pembina Pipeline by 1,894.9% during the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after acquiring an additional 8,372,612 shares during the period. CIBC Asset Management Inc increased its stake in Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after acquiring an additional 1,304,227 shares during the period. TD Asset Management Inc raised its stake in shares of Pembina Pipeline by 3.9% in the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock valued at $306,634,000 after purchasing an additional 283,513 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Pembina Pipeline by 12.6% during the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after acquiring an additional 717,773 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.