Pembina Pipeline (NYSE:PBA) Price Target Raised to $56.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its target price raised by Citigroup from $53.00 to $56.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Several other equities research analysts also recently weighed in on PBA. Scotiabank downgraded Pembina Pipeline from a strong-buy rating to a hold rating in a research report on Sunday, May 19th. StockNews.com lowered shares of Pembina Pipeline from a buy rating to a hold rating in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating, According to MarketBeat, Pembina Pipeline currently has a consensus rating of Hold and a consensus target price of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA opened at $40.28 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The stock has a 50-day moving average of $38.08 and a two-hundred day moving average of $36.46. The stock has a market cap of $23.36 billion, a P/E ratio of 17.51, a P/E/G ratio of 5.43 and a beta of 1.25. Pembina Pipeline has a one year low of $28.15 and a one year high of $40.55.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.21. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. As a group, research analysts predict that Pembina Pipeline will post 2.36 EPS for the current year.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.52%.

Hedge Funds Weigh In On Pembina Pipeline

Large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new stake in Pembina Pipeline in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $37,000 after acquiring an additional 462 shares during the period. Beacon Capital Management LLC acquired a new stake in Pembina Pipeline in the 1st quarter valued at $37,000. First Horizon Advisors Inc. increased 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 in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in Pembina Pipeline during the fourth quarter worth $62,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

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.