Pembina Pipeline Corp. (NYSE:PBA) Given Consensus Rating of “Moderate Buy” by Brokerages

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.00.

PBA has been the topic of several recent research reports. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, December 16th. TD Securities cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th.

Pembina Pipeline Stock Down 2.0%

PBA stock opened at $43.55 on Wednesday. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 21.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. The business’s 50-day moving average is $39.57 and its two-hundred day moving average is $38.81. Pembina Pipeline has a fifty-two week low of $34.13 and a fifty-two week high of $44.60.

Hedge Funds Weigh In On Pembina Pipeline

Several hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP boosted its position in shares of Pembina Pipeline by 66.3% in the 2nd quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock valued at $2,872,000 after purchasing an additional 30,523 shares during the period. Varma Mutual Pension Insurance Co lifted its stake in Pembina Pipeline by 8.6% in the third quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock valued at $12,528,000 after buying an additional 24,400 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Pembina Pipeline in the second quarter valued at approximately $1,658,000. First Trust Advisors LP grew its position in shares of Pembina Pipeline by 411.1% during the second quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock worth $46,820,000 after acquiring an additional 1,003,819 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of Pembina Pipeline by 14.1% during the second quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock worth $61,139,000 after acquiring an additional 201,096 shares during the last quarter. Hedge funds and other institutional investors 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.