Wall Street Zen Upgrades Pembina Pipeline (NYSE:PBA) to Hold

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

PBA has been the subject of several other research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $68.00 target price on shares of Pembina Pipeline in a research report on Friday, July 3rd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of “Hold” and an average target price of $64.00.

Pembina Pipeline Price Performance

NYSE:PBA opened at $51.37 on Friday. Pembina Pipeline has a 52 week low of $35.45 and a 52 week high of $51.58. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $29.87 billion, a P/E ratio of 26.75 and a beta of 0.57. The stock’s fifty day moving average is $48.33 and its two-hundred day moving average is $44.99.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts expect that Pembina Pipeline will post 2.22 EPS for the current year.

Institutional Trading of Pembina Pipeline

Several hedge funds have recently added to or reduced their stakes in PBA. Western Wealth Management LLC purchased a new position in Pembina Pipeline in the first quarter worth approximately $25,000. Tobam purchased a new stake in shares of Pembina Pipeline in the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pembina Pipeline in the 3rd quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pembina Pipeline in the 4th quarter valued at $36,000. Finally, Larson Financial Group LLC raised its holdings in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

About Pembina Pipeline

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.