Pembina Pipeline (NYSE:PBA) Hits New 12-Month High After Analyst Upgrade

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price reached a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $60.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pembina Pipeline traded as high as $45.16 and last traded at $44.6310, with a volume of 125219 shares traded. The stock had previously closed at $44.65.

PBA has been the subject of a number of other research reports. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. TD Securities downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Institutional Trading of Pembina Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of PBA. Purpose Unlimited Inc. bought a new position in Pembina Pipeline during the 4th quarter worth approximately $22,201,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Pembina Pipeline by 103.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,535 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 779 shares during the last quarter. Tobam bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at approximately $28,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Pembina Pipeline during the 4th quarter valued at approximately $314,000. Finally, NewEdge Advisors LLC raised its position in shares of Pembina Pipeline by 30.0% during the 4th quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock valued at $482,000 after acquiring an additional 2,920 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

The company has a 50 day moving average of $42.58 and a 200-day moving average of $39.96. The stock has a market capitalization of $26.19 billion, a P/E ratio of 23.71 and a beta of 0.68. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.41 billion. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Sell-side analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, March 16th. Pembina Pipeline’s dividend payout ratio is currently 109.47%.

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.