Brokerages Set Pembina Pipeline Corp. (NYSE:PBA) Target Price at $60.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $60.00.

PBA has been the subject of a number of recent analyst reports. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Finally, TD Securities downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th.

Pembina Pipeline Stock Down 1.1%

Shares of PBA stock opened at $44.06 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The firm’s 50-day moving average is $42.11 and its 200-day moving average is $39.83. The stock has a market cap of $25.60 billion, a price-to-earnings ratio of 23.19 and a beta of 0.68. Pembina Pipeline has a 52-week low of $34.13 and a 52-week high of $45.09.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.Pembina Pipeline’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Sell-side analysts predict that Pembina Pipeline will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. Pembina Pipeline’s dividend payout ratio is presently 109.47%.

Institutional Trading of Pembina Pipeline

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in Pembina Pipeline by 103.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,535 shares of the pipeline company’s stock valued at $58,000 after buying an additional 779 shares during the last quarter. Tobam acquired a new stake in Pembina Pipeline during the fourth quarter worth approximately $28,000. Beacon Pointe Advisors LLC acquired a new stake in Pembina Pipeline during the fourth quarter worth approximately $314,000. NewEdge Advisors LLC boosted its holdings in shares of Pembina Pipeline by 30.0% during the fourth quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock worth $482,000 after acquiring an additional 2,920 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Pembina Pipeline by 1.0% during the fourth quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after acquiring an additional 248 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

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.