Pembina Pipeline (NYSE:PBA) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.37 and traded as high as $44.63. Pembina Pipeline shares last traded at $44.5860, with a volume of 1,407,644 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PBA. JPMorgan Chase & Co. lifted their price target on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Stock Up 1.9%

The firm’s 50-day moving average price is $43.75 and its two-hundred day moving average price is $40.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The firm has a market cap of $25.92 billion, a PE ratio of 23.47 and a beta of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $0.92 EPS. Pembina Pipeline’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities research analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.4%. Pembina Pipeline’s payout ratio is 109.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. acquired a new position in Pembina Pipeline during the fourth quarter worth approximately $22,201,000. Caitong International Asset Management Co. Ltd lifted its stake in Pembina Pipeline by 103.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,535 shares of the pipeline company’s stock valued at $58,000 after buying an additional 779 shares during the last quarter. Tobam acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $28,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $314,000. Finally, NewEdge Advisors LLC grew its position in shares of Pembina Pipeline by 30.0% during the fourth quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock worth $482,000 after acquiring an additional 2,920 shares during the last quarter. Hedge funds and other institutional investors 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.