Pembina Pipeline Corp. (NYSE:PBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
Other research analysts have also issued research reports about the company. GMP Securities restated a “buy” rating on shares of Pembina Pipeline Corp. in a research report on Monday, June 27th. National Bank Financial lowered Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. RBC Capital Markets restated an “outperform” rating and set a $45.00 price objective (up previously from $42.00) on shares of Pembina Pipeline Corp. in a research report on Wednesday, August 10th. Scotiabank restated an “outperform” rating and set a $44.00 price objective on shares of Pembina Pipeline Corp. in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG lowered Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a research report on Monday, June 20th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Pembina Pipeline Corp. has an average rating of “Buy” and an average target price of $41.75.
Pembina Pipeline Corp. (NYSE:PBA) opened at 30.17 on Tuesday. The firm’s 50-day moving average price is $30.24 and its 200-day moving average price is $29.59. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 36.88 and a beta of 0.68. Pembina Pipeline Corp. has a 52-week low of $17.88 and a 52-week high of $32.31.
Pembina Pipeline Corp. (NYSE:PBA) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities analysts anticipate that Pembina Pipeline Corp. will post $0.89 EPS for the current year.
The business also recently declared a oct 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 25th will be paid a dividend of $0.16 per share. This represents a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio is presently 179.27%.
Several hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in Pembina Pipeline Corp. by 1.9% in the first quarter. Barclays PLC now owns 239,248 shares of the company’s stock valued at $6,220,000 after buying an additional 4,469 shares in the last quarter. Arrowgrass Capital Partners US LP bought a new stake in Pembina Pipeline Corp. during the first quarter valued at $6,144,000. Legal & General Group Plc increased its stake in Pembina Pipeline Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 1,577,210 shares of the company’s stock valued at $42,810,000 after buying an additional 95,256 shares in the last quarter. AMP Capital Investors Ltd increased its stake in Pembina Pipeline Corp. by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 615,898 shares of the company’s stock valued at $16,566,000 after buying an additional 26,616 shares in the last quarter. Finally, Sentry Investments Corp. increased its stake in Pembina Pipeline Corp. by 51.5% in the first quarter. Sentry Investments Corp. now owns 1,864,055 shares of the company’s stock valued at $65,447,000 after buying an additional 633,850 shares in the last quarter. 46.58% of the stock is owned by hedge funds and other institutional investors.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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