Brokerages Set Pembina Pipeline Co. (NYSE:PBA) PT at $56.00

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $56.00.

Separately, Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th.

Institutional Trading of Pembina Pipeline

Institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in shares of Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 277 shares during the period. N.E.W. Advisory Services LLC bought a new position in Pembina Pipeline during the 1st quarter valued at about $27,000. Sound Income Strategies LLC purchased a new stake in Pembina Pipeline in the 4th quarter worth about $27,000. Principal Securities Inc. raised its position in Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Pembina Pipeline by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 880 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Price Performance

NYSE:PBA opened at $37.33 on Monday. The business’s 50-day moving average is $38.23 and its 200 day moving average is $38.22. Pembina Pipeline has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a market capitalization of $21.68 billion, a P/E ratio of 15.42 and a beta of 0.81. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The company’s revenue was up 48.2% compared to the same quarter last year. On average, equities research analysts forecast that Pembina Pipeline will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.5109 per share. The ex-dividend date is Monday, June 16th. This represents a $2.04 annualized dividend and a dividend yield of 5.47%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is currently 89.14%.

About Pembina Pipeline

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.