PBA FY2024 EPS Estimate Cut by National Bank Financial

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – National Bank Financial reduced their FY2024 earnings per share estimates for Pembina Pipeline in a note issued to investors on Wednesday, November 6th. National Bank Financial analyst P. Kenny now expects that the pipeline company will earn $2.44 per share for the year, down from their previous estimate of $2.64. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.38 per share.

Several other equities analysts also recently commented on the company. UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Citigroup increased their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James began coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $41.22 on Friday. Pembina Pipeline has a 12 month low of $31.51 and a 12 month high of $43.44. The stock’s 50 day moving average is $41.60 and its 200-day moving average is $38.80. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 17.18 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis.

Institutional Investors Weigh In On Pembina Pipeline

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Pembina Pipeline by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after purchasing an additional 460,761 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after acquiring an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares during the last quarter. ClearBridge Investments Ltd lifted its stake in shares of Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after acquiring an additional 784,814 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Pembina Pipeline by 8.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after acquiring an additional 481,285 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is currently 85.00%.

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.