Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Price Target at $64.00

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $64.00.

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Thursday. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. BMO Capital Markets reissued a “market perform” rating and issued a $68.00 price target on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Weiss Ratings downgraded Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th.

Hedge Funds Weigh In On Pembina Pipeline

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Pembina Pipeline in the 1st quarter worth about $374,000. Focus Partners Wealth purchased a new position in shares of Pembina Pipeline in the 1st quarter valued at approximately $312,000. Marshall Wace LLP acquired a new stake in Pembina Pipeline in the 2nd quarter worth approximately $253,000. Cresset Asset Management LLC boosted its stake in Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. grew its position in Pembina Pipeline by 17.5% during the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $50.73 on Friday. The stock has a market cap of $29.50 billion, a PE ratio of 26.42 and a beta of 0.57. Pembina Pipeline has a fifty-two week low of $35.45 and a fifty-two week high of $51.56. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. The stock has a fifty day moving average of $48.08 and a 200-day moving average of $44.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $1.11 billion for 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 firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities research analysts anticipate that Pembina Pipeline will post 2.23 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 5.8%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s dividend payout ratio is presently 110.94%.

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.