Pembina Pipeline Co. (NYSE:PBA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.50.

A number of research firms recently commented on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, TD Securities initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating for the company.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $38.37 on Wednesday. Pembina Pipeline has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The stock’s 50-day moving average is $36.77 and its two-hundred day moving average is $39.40. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a market cap of $22.28 billion, a P/E ratio of 15.86 and a beta of 1.25.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is currently 86.30%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its position in shares of Pembina Pipeline by 10.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock valued at $514,154,000 after purchasing an additional 1,331,294 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Pembina Pipeline by 140.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 122,237 shares of the pipeline company’s stock valued at $4,515,000 after buying an additional 71,482 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Pembina Pipeline by 1,591.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock worth $116,440,000 after buying an additional 2,968,994 shares during the period. USS Investment Management Ltd lifted its holdings in shares of Pembina Pipeline by 54.9% during the fourth quarter. USS Investment Management Ltd now owns 110,640 shares of the pipeline company’s stock worth $4,084,000 after buying an additional 39,206 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $6,738,000. Institutional investors own 55.37% of the company’s stock.

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.