Pembina Pipeline Corp. (NYSE:PBA) Stock Has Average Target Price of $64.00

Shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $64.00.

PBA has been the subject of a number of research reports. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Wednesday.

Pembina Pipeline Stock Down 1.6%

Shares of NYSE PBA opened at $45.98 on Thursday. Pembina Pipeline has a 52-week low of $36.20 and a 52-week high of $51.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. The business has a fifty day moving average of $47.69 and a two-hundred day moving average of $47.18. The stock has a market cap of $26.74 billion, a PE ratio of 22.54 and a beta of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities research analysts expect that Pembina Pipeline will post 2.2 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of C$0.73 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.94 annualized dividend and a yield of 6.4%. Pembina Pipeline’s dividend payout ratio is currently 103.92%.

Institutional Trading of Pembina Pipeline

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new position in Pembina Pipeline during the 2nd quarter worth $285,738,000. Canada Pension Plan Investment Board bought a new stake in Pembina Pipeline in the second quarter valued at approximately $264,907,000. Deutsche Bank AG bought a new stake in Pembina Pipeline in the second quarter valued at approximately $262,233,000. Norges Bank acquired a new stake in Pembina Pipeline during the 4th quarter valued at approximately $213,701,000. Finally, Legal & General Group Plc acquired a new stake in shares of Pembina Pipeline during the second quarter worth $199,230,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

About Pembina Pipeline

Pembina Pipeline Corporation is a Canadian energy infrastructure company that provides transportation and midstream services for the oil, natural gas and natural gas liquids industries. Its operations are focused primarily on Western Canada, where it connects hydrocarbon-producing regions with processing facilities, storage sites, refineries, petrochemical markets and export channels.

The company owns and operates an extensive network of pipelines and related infrastructure. Its services include hydrocarbon gathering and transportation, natural gas processing, fractionation and storage of natural gas liquids, terminalling and rail services.