CIBC Raises Pembina Pipeline (NYSE:PBA) Price Target to $57.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price target hoisted by CIBC from $56.00 to $57.00 in a report issued on Friday, Benzinga reports. They currently have an outperformer rating on the pipeline company’s stock.

Other analysts have also recently issued research reports about the company. TheStreet upgraded Pembina Pipeline from a c rating to a b- rating in a report on Thursday, February 29th. StockNews.com upgraded Pembina Pipeline from a hold rating to a buy rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline has an average rating of Moderate Buy and an average price target of $52.00.

Pembina Pipeline Stock Up 0.6 %

PBA opened at $35.10 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.82 and a quick ratio of 0.71. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 5.21 and a beta of 1.20. The business has a 50-day moving average of $34.88 and a two-hundred day moving average of $33.61. Pembina Pipeline has a 12 month low of $28.15 and a 12 month high of $36.17.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.55 by $0.34. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a return on equity of 13.11% and a net margin of 19.43%. On average, research analysts expect that Pembina Pipeline will post 2.23 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.4944 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.63%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is presently 89.14%.

Institutional Trading of Pembina Pipeline

Institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in Pembina Pipeline in the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC purchased a new position in Pembina Pipeline in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its holdings in Pembina Pipeline by 74.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 462 shares during the period. First Horizon Advisors Inc. boosted its holdings in Pembina Pipeline by 303.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock worth $52,000 after acquiring an additional 1,142 shares during the period. Finally, Rational Advisors LLC purchased a new position in Pembina Pipeline in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.