Pembina Pipeline (NYSE:PBA) Reaches New 52-Week High on Analyst Upgrade

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) shares hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $55.00 to $60.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pembina Pipeline traded as high as $45.16 and last traded at $44.6310, with a volume of 125219 shares trading hands. The stock had previously closed at $44.65.

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

Institutional Trading of Pembina Pipeline

A number of hedge funds have recently made changes to their positions in PBA. Purpose Unlimited Inc. purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at $22,201,000. Caitong International Asset Management Co. Ltd grew its holdings in Pembina Pipeline by 103.0% during 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 purchasing an additional 779 shares in the last quarter. Tobam purchased a new stake in Pembina Pipeline during the 4th quarter worth $28,000. Beacon Pointe Advisors LLC purchased a new stake in Pembina Pipeline during the 4th quarter worth $314,000. Finally, NewEdge Advisors LLC lifted its holdings in Pembina Pipeline by 30.0% in the 4th quarter. NewEdge Advisors LLC now owns 12,669 shares of the pipeline company’s stock worth $482,000 after buying an additional 2,920 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.9%

The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $42.58 and its two-hundred day simple moving average is $39.94. The company has a market capitalization of $26.19 billion, a PE ratio of 23.71 and a beta of 0.68.

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

Pembina Pipeline Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 6.3%. Pembina Pipeline’s payout ratio is currently 109.47%.

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.