Brokerages Set Pembina Pipeline Co. (NYSE:PBA) Target Price at $56.50

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) have been given an average rating of “Hold” by the four brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $56.50.

PBA has been the subject of a number of recent analyst reports. UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, Raymond James started coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock.

Pembina Pipeline Trading Up 0.4 %

Shares of PBA stock opened at $41.37 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline has a fifty-two week low of $32.39 and a fifty-two week high of $43.44. The stock has a market capitalization of $24.02 billion, a P/E ratio of 17.10 and a beta of 1.25. The stock has a 50-day simple moving average of $42.00 and a 200 day simple moving average of $39.50.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.67%. Pembina Pipeline’s payout ratio is presently 84.30%.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors have recently bought and sold shares of PBA. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Pembina Pipeline during the third quarter worth about $26,000. Prospera Private Wealth LLC bought a new stake in Pembina Pipeline during the third quarter worth about $26,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline during the third quarter worth about $28,000. Finally, Blue Trust Inc. raised its stake in Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after buying an additional 508 shares during the period. 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.