Pembina Pipeline (NYSE:PBA) Reaches New 1-Year High – Here’s Why

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) reached a new 52-week high on Wednesday . The stock traded as high as $42.97 and last traded at $42.96, with a volume of 362173 shares traded. The stock had previously closed at $42.37.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Citigroup increased their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Trading Up 1.5 %

The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $40.50 and a two-hundred day moving average of $38.01. The firm has a market capitalization of $24.94 billion, a P/E ratio of 18.43, a P/E/G ratio of 5.86 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.45 EPS. On average, analysts anticipate that Pembina Pipeline Co. will post 2.42 EPS for the current year.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s payout ratio is 88.70%.

Hedge Funds Weigh In On Pembina Pipeline

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after purchasing an additional 460,761 shares during the last quarter. Toronto Dominion Bank increased its position in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after acquiring an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board raised its stake 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 valued at $311,142,000 after acquiring an additional 3,043,200 shares during the last quarter. ClearBridge Investments Ltd lifted its holdings in Pembina Pipeline by 12.3% during the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after buying an additional 784,814 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Pembina Pipeline by 7.5% in the second quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company’s stock valued at $219,689,000 after buying an additional 414,419 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

About Pembina Pipeline

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.