Pembina Pipeline (NYSE:PBA) Downgraded to “Hold” Rating by Wells Fargo & Company

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was downgraded by Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on PBA. UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Citigroup lifted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, Raymond James started coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

PBA opened at $36.07 on Wednesday. The stock’s 50-day moving average price is $41.10 and its 200 day moving average price is $39.65. Pembina Pipeline has a 12-month low of $32.81 and a 12-month high of $43.44. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 14.90 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Institutional Investors Weigh In On Pembina Pipeline

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank grew its position in Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after purchasing an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after buying an additional 3,043,200 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after acquiring an additional 1,319,709 shares during the period. Intact Investment Management Inc. lifted its position in Pembina Pipeline by 83.2% during the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after acquiring an additional 897,940 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of Pembina Pipeline by 2,256.3% in the 2nd quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after purchasing an additional 622,202 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other 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.