Pembina Pipeline (NYSE:PBA) Sets New 12-Month High at $41.30

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) shares hit a new 52-week high on Friday . The company traded as high as $41.30 and last traded at $41.17, with a volume of 300559 shares trading hands. The stock had previously closed at $40.80.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Scotiabank lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Trading Up 1.3 %

The company has a 50 day simple moving average of $38.79 and a 200 day simple moving average of $36.92. The stock has a market capitalization of $23.97 billion, a PE ratio of 17.74, a P/E/G ratio of 5.65 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.21. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Analysts predict that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 4.84%. Pembina Pipeline’s dividend payout ratio is currently 87.83%.

Institutional Investors Weigh In On Pembina Pipeline

A number of institutional investors have recently added to or reduced their stakes in PBA. Toronto Dominion Bank boosted its stake in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Norges Bank acquired a new position in shares of Pembina Pipeline during the 4th quarter worth $133,917,000. Canada Pension Plan Investment Board increased its holdings in shares of Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. Capital World Investors purchased a new position in shares of Pembina Pipeline in the 4th quarter valued at about $32,541,000. Finally, ClearBridge Investments Ltd lifted its stake in shares of Pembina Pipeline by 12.3% in the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after purchasing an additional 784,814 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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.