Pembina Pipeline (NYSE:PBA) Upgraded by Citigroup to Buy Rating

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Monday,Briefing.com Automated Import reports.

PBA has been the topic of a number of other reports. Barclays started coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Trading Up 0.3 %

Shares of NYSE PBA opened at $37.83 on Monday. The firm has a market capitalization of $21.97 billion, a PE ratio of 15.63 and a beta of 1.26. Pembina Pipeline has a one year low of $33.83 and a one year high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $39.38.

Hedge Funds Weigh In On Pembina Pipeline

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Pembina Pipeline during the 4th quarter valued at about $171,860,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Pembina Pipeline by 1,591.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock valued at $116,440,000 after purchasing an additional 2,968,994 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Pembina Pipeline during the fourth quarter valued at approximately $73,073,000. Mackenzie Financial Corp raised 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 period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after buying an additional 1,319,709 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

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.