JPMorgan Chase & Co. Issues Positive Forecast for Pembina Pipeline (NYSE:PBA) Stock Price

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price target boosted by JPMorgan Chase & Co. from $55.00 to $60.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the pipeline company’s stock.

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

Pembina Pipeline Price Performance

Shares of PBA opened at $44.62 on Thursday. The firm has a 50-day simple moving average of $42.42 and a two-hundred day simple moving average of $39.89. The stock has a market cap of $25.94 billion, a PE ratio of 23.48 and a beta of 0.68. Pembina Pipeline has a 1-year low of $34.13 and a 1-year high of $45.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. The firm had revenue of $1.02 billion for 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 business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. As a group, analysts forecast that Pembina Pipeline will post 2.15 EPS for the current year.

Pembina Pipeline Dividend Announcement

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

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors have recently modified their holdings of PBA. Caitong International Asset Management Co. Ltd increased its position in shares of Pembina Pipeline by 103.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,535 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 779 shares during the period. Tobam purchased a new position in Pembina Pipeline in the fourth quarter valued at $28,000. Beacon Pointe Advisors LLC acquired a new position in Pembina Pipeline during the 4th quarter worth $314,000. NewEdge Advisors LLC grew its stake in Pembina Pipeline by 30.0% during the 4th quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock worth $482,000 after purchasing an additional 2,920 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Pembina Pipeline by 1.0% during the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after purchasing an additional 248 shares during the period. 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.