Published On: Fri, Sep 16th, 2016

Pembina Pipeline Corp. (PBA) Rating Increased to Hold at Zacks Investment Research

Pembina Pipeline Corp. (NYSE:PBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
Several other research analysts also recently commented on PBA. Canaccord Genuity restated a “buy” rating on shares of Pembina Pipeline Corp. in a report on Thursday, September 8th. Scotiabank restated an “outperform” rating and set a $44.00 price objective on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. TD Securities restated a “buy” rating and set a $44.00 price objective (up from $41.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. RBC Capital Markets restated an “outperform” rating and set a $45.00 price objective (up from $42.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Finally, National Bank Financial downgraded Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Pembina Pipeline Corp. presently has a consensus rating of “Buy” and an average price target of $41.75.

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Pembina Pipeline Corp. (NYSE:PBA) traded up 1.41% during midday trading on Thursday, reaching $29.50. The company’s stock had a trading volume of 161,339 shares. The company has a market cap of $11.56 billion, a P/E ratio of 35.29 and a beta of 0.68. Pembina Pipeline Corp. has a 12-month low of $17.88 and a 12-month high of $32.31. The firm has a 50 day moving average price of $30.11 and a 200-day moving average price of $28.98.
Pembina Pipeline Corp. (NYSE:PBA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.05. Pembina Pipeline Corp. had a return on equity of 7.13% and a net margin of 10.63%. The business earned $1.03 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s quarterly revenue was down 15.3% compared to the same quarter last year. On average, equities research analysts predict that Pembina Pipeline Corp. will post $0.87 earnings per share for the current fiscal year.
The firm also recently disclosed a sep 16 dividend, which will be paid on Saturday, October 15th. Stockholders of record on Sunday, September 25th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a dividend yield of 4.93%. Pembina Pipeline Corp.’s payout ratio is 179.27%.
Hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. boosted its stake in shares of Pembina Pipeline Corp. by 1,758.9% in the second quarter. Cohen & Steers Inc. now owns 1,069,332 shares of the company’s stock worth $32,326,000 after buying an additional 1,011,808 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Pembina Pipeline Corp. by 11.3% in the second quarter. IFP Advisors Inc now owns 7,946 shares of the company’s stock worth $241,000 after buying an additional 804 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Pembina Pipeline Corp. by 57.8% in the second quarter. Hillsdale Investment Management Inc. now owns 28,400 shares of the company’s stock worth $862,000 after buying an additional 10,400 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Pembina Pipeline Corp. by 23.1% in the second quarter. Stifel Financial Corp now owns 19,829 shares of the company’s stock worth $603,000 after buying an additional 3,716 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Pembina Pipeline Corp. by 12.1% in the second quarter. Legal & General Group Plc now owns 1,767,463 shares of the company’s stock worth $53,427,000 after buying an additional 190,253 shares in the last quarter. 46.56% of the stock is owned by hedge funds and other institutional investors.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.

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