Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Target Price at $56.00

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.00.

Several research analysts have recently issued reports on PBA shares. National Bank Financial raised Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 25th. National Bankshares raised shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Finally, Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Canoe Financial LP acquired a new position in shares of Pembina Pipeline during the 2nd quarter valued at about $5,073,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pembina Pipeline by 7.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,531 shares of the pipeline company’s stock valued at $729,000 after acquiring an additional 1,349 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Pembina Pipeline by 200.0% during the 2nd quarter. Chickasaw Capital Management LLC now owns 24,000 shares of the pipeline company’s stock valued at $900,000 after acquiring an additional 16,000 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Pembina Pipeline by 11.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,436 shares of the pipeline company’s stock valued at $129,000 after acquiring an additional 352 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Pembina Pipeline by 736.4% during the 1st quarter. Acadian Asset Management LLC now owns 36,800 shares of the pipeline company’s stock valued at $1,470,000 after acquiring an additional 32,400 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.0%

NYSE:PBA opened at $36.84 on Tuesday. The company has a market capitalization of $21.40 billion, a PE ratio of 16.67 and a beta of 0.76. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. Pembina Pipeline has a 52-week low of $34.13 and a 52-week high of $43.44. The stock has a fifty day simple moving average of $37.55 and a 200-day simple moving average of $37.51.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.23. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The business’s revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. On average, equities research analysts expect that Pembina Pipeline will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.5109 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 annualized dividend and a yield of 5.55%. Pembina Pipeline’s payout ratio is presently 93.67%.

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.