Pembina Pipeline (NYSE:PBA) Price Target Raised to $57.00

Pembina Pipeline (NYSE:PBAFree Report) (TSE:PPL) had its price objective increased by CIBC from $56.00 to $57.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperformer rating on the pipeline company’s stock.

PBA has been the topic of several other reports. StockNews.com upgraded shares of Pembina Pipeline from a hold rating to a buy rating in a research report on Friday, April 12th. TheStreet upgraded shares of Pembina Pipeline from a c rating to a b- rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $52.00.

Read Our Latest Research Report on Pembina Pipeline

Pembina Pipeline Stock Up 1.7 %

Shares of NYSE PBA opened at $34.88 on Friday. The firm’s 50-day moving average price is $34.86 and its 200-day moving average price is $33.57. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 5.21 and a beta of 1.20. Pembina Pipeline has a 12-month low of $28.15 and a 12-month high of $36.17.

Pembina Pipeline (NYSE:PBAGet Free Report) (TSE:PPL) last announced its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. On average, equities research analysts anticipate that Pembina Pipeline will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.4944 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend was Thursday, March 14th. Pembina Pipeline’s dividend payout ratio is 89.14%.

Institutional Trading of Pembina Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBA. Norges Bank purchased a new stake in Pembina Pipeline in the 4th quarter worth about $132,486,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Pembina Pipeline by 340.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,640,000 shares of the pipeline company’s stock worth $79,412,000 after acquiring an additional 2,040,000 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Pembina Pipeline in the 4th quarter worth about $69,047,000. Goldman Sachs Group Inc. grew its stake in Pembina Pipeline by 44.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,090,881 shares of the pipeline company’s stock worth $209,648,000 after acquiring an additional 1,860,151 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Pembina Pipeline by 403.7% in the 1st quarter. Wellington Management Group LLP now owns 2,229,313 shares of the pipeline company’s stock worth $83,832,000 after acquiring an additional 1,786,692 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Company Profile

(Get Free Report)

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.

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