Pembina Pipeline (NYSE:PBA) Rating Increased to Buy at Citigroup

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Monday,Briefing.com Automated Import reports.

PBA has been the subject of a number of other reports. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $37.83 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $36.84 and its 200-day moving average price is $39.38. Pembina Pipeline has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a market cap of $21.97 billion, a PE ratio of 15.63 and a beta of 1.26.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Pembina Pipeline in the 4th quarter worth approximately $171,860,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Pembina Pipeline by 1,591.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock worth $116,440,000 after purchasing an additional 2,968,994 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pembina Pipeline in the fourth quarter worth $73,073,000. Mackenzie Financial Corp raised its position in shares of Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock valued at $514,154,000 after purchasing an additional 1,331,294 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Pembina Pipeline by 71.6% during 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 buying an additional 1,319,709 shares in the last quarter. 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.