Pembina Pipeline (NYSE:PBA) Price Target Raised to C$56.00 at Canaccord Genuity Group

Pembina Pipeline (NYSE:PBAGet Rating) (TSE:PPL) had its price objective raised by Canaccord Genuity Group from C$54.00 to C$56.00 in a report published on Thursday morning, The Fly reports. Canaccord Genuity Group currently has a buy rating on the pipeline company’s stock.

A number of other brokerages also recently issued reports on PBA. TD Securities boosted their price target on Pembina Pipeline from C$50.00 to C$54.00 in a report on Monday, May 9th. Raymond James boosted their price target on Pembina Pipeline from C$49.50 to C$50.00 in a report on Friday, May 6th. National Bank Financial boosted their price target on Pembina Pipeline from C$45.00 to C$48.00 in a report on Monday, May 9th. Zacks Investment Research raised Pembina Pipeline from a hold rating to a buy rating and set a $39.00 price target for the company in a report on Monday, March 14th. Finally, Scotiabank boosted their price objective on Pembina Pipeline from C$54.00 to C$55.00 in a research report on Friday, May 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $51.11.

Shares of NYSE PBA opened at $39.29 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.46 and a current ratio of 0.55. Pembina Pipeline has a fifty-two week low of $28.89 and a fifty-two week high of $41.21. The company has a market cap of $21.78 billion, a PE ratio of 21.59, a P/E/G ratio of 5.77 and a beta of 1.25. The business has a 50-day simple moving average of $38.18 and a two-hundred day simple moving average of $34.20.

Pembina Pipeline (NYSE:PBAGet Rating) (TSE:PPL) last released its earnings results on Thursday, February 24th. The pipeline company reported $0.06 EPS for the quarter. Pembina Pipeline had a return on equity of 11.71% and a net margin of 14.46%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. On average, sell-side analysts predict that Pembina Pipeline will post 2.27 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, May 25th will be given a dividend of $0.163 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Tuesday, May 24th. Pembina Pipeline’s payout ratio is 110.44%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Pembina Pipeline by 89.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 37,752 shares of the pipeline company’s stock worth $1,145,000 after purchasing an additional 17,876 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Pembina Pipeline during the third quarter worth approximately $793,000. Advisor Group Holdings Inc. boosted its stake in Pembina Pipeline by 29.7% during the third quarter. Advisor Group Holdings Inc. now owns 37,045 shares of the pipeline company’s stock worth $1,175,000 after buying an additional 8,481 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Pembina Pipeline by 22.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,977 shares of the pipeline company’s stock worth $424,000 after buying an additional 2,527 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in Pembina Pipeline by 267.2% during the fourth quarter. Alberta Investment Management Corp now owns 1,967,827 shares of the pipeline company’s stock worth $59,776,000 after buying an additional 1,431,920 shares during the last quarter. Hedge funds and other institutional investors own 55.44% of the company’s stock.

About Pembina Pipeline (Get Rating)

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.

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