Pembina Pipeline (NYSE:PBA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other brokerages have also recently commented on PBA. Weiss Ratings cut Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 target price on shares of Pembina Pipeline in a report on Friday, July 3rd. Finally, TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and a consensus price target of $64.00.

Pembina Pipeline Trading Up 0.3%

NYSE PBA opened at $51.37 on Friday. The company has a fifty day simple moving average of $48.33 and a two-hundred day simple moving average of $44.99. The stock has a market cap of $29.87 billion, a P/E ratio of 26.75 and a beta of 0.57. Pembina Pipeline has a 12-month low of $35.45 and a 12-month high of $51.58. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, analysts forecast that Pembina Pipeline will post 2.2 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors and hedge funds have recently modified their holdings of PBA. AQR Capital Management LLC acquired a new stake in Pembina Pipeline during the first quarter worth about $374,000. Focus Partners Wealth acquired a new position in Pembina Pipeline in the first quarter valued at approximately $312,000. Marshall Wace LLP acquired a new position in Pembina Pipeline in the second quarter valued at approximately $253,000. Cresset Asset Management LLC boosted its position in Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. boosted its position in Pembina Pipeline by 17.5% in the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares in the last quarter. 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.