Pembina Pipeline (NYSE:PBA) Announces Quarterly Earnings Results

Pembina Pipeline (NYSE:PBAGet Rating) (TSE:PPL) announced its quarterly earnings data on Thursday. The pipeline company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.47 by $0.22, Briefing.com reports. Pembina Pipeline had a net margin of 14.46% and a return on equity of 11.71%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was up 62.7% compared to the same quarter last year.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock traded down $1.02 during trading hours on Friday, reaching $35.38. 1,022,870 shares of the company’s stock were exchanged, compared to its average volume of 1,156,472. Pembina Pipeline has a 1 year low of $28.89 and a 1 year high of $42.74. The company has a market capitalization of $19.64 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 5.47 and a beta of 1.24. The business has a fifty day moving average of $37.01 and a two-hundred day moving average of $36.51. The company has a quick ratio of 0.46, a current ratio of 0.55 and a debt-to-equity ratio of 0.85.

Pembina Pipeline Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 25th will be issued a dividend of $0.163 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Friday, July 22nd. Pembina Pipeline’s payout ratio is 107.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP boosted its position in shares of Pembina Pipeline by 1,550.5% during the 1st quarter. Quantbot Technologies LP now owns 54,036 shares of the pipeline company’s stock valued at $2,031,000 after acquiring an additional 50,762 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Pembina Pipeline by 53.4% during the 1st quarter. American Century Companies Inc. now owns 39,699 shares of the pipeline company’s stock valued at $1,492,000 after acquiring an additional 13,820 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Pembina Pipeline by 20.3% during the 1st quarter. HighTower Advisors LLC now owns 39,252 shares of the pipeline company’s stock valued at $1,478,000 after acquiring an additional 6,629 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Pembina Pipeline during the 1st quarter valued at about $1,331,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Pembina Pipeline by 1.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 30,388 shares of the pipeline company’s stock valued at $1,143,000 after acquiring an additional 438 shares during the last quarter. Institutional investors and hedge funds own 55.44% of the company’s stock.

Wall Street Analyst Weigh In

PBA has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of Pembina Pipeline from C$49.00 to C$58.00 in a research note on Monday, May 9th. Scotiabank boosted their target price on shares of Pembina Pipeline from C$54.00 to C$55.00 in a research note on Friday, May 6th. Canaccord Genuity Group boosted their target price on shares of Pembina Pipeline from C$54.00 to C$56.00 and gave the company a “buy” rating in a research note on Thursday, May 19th. BMO Capital Markets boosted their target price on shares of Pembina Pipeline from C$54.00 to C$55.00 in a research note on Friday, May 6th. Finally, Credit Suisse Group upgraded shares of Pembina Pipeline from a “neutral” rating to an “outperform” rating in a research note on Monday, April 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.63.

About Pembina Pipeline

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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.

Further Reading

Earnings History for Pembina Pipeline (NYSE:PBA)

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