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

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) shares reached a new 52-week high on Monday . The company traded as high as $51.56 and last traded at $51.4320, with a volume of 945042 shares changing hands. The stock had previously closed at $51.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. BMO Capital Markets restated a “market perform” rating and set a $68.00 target price on shares of Pembina Pipeline in a research note on Friday, July 3rd. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline Stock Down 0.7%

The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market cap of $29.29 billion, a price-to-earnings ratio of 26.24 and a beta of 0.57. The stock has a fifty day moving average price of $48.16 and a two-hundred day moving average price of $44.76.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Pembina Pipeline’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, June 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is currently 110.94%.

Institutional Investors Weigh In On Pembina Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Pembina Pipeline by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after buying an additional 541,615 shares in the last quarter. FIL Ltd raised its holdings in Pembina Pipeline by 2.6% in the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock valued at $532,541,000 after acquiring an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Pembina Pipeline by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock valued at $375,236,000 after acquiring an additional 94,655 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Pembina Pipeline by 17.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after acquiring an additional 1,304,227 shares during the period. Finally, Scotia Capital Inc. grew its holdings in shares of Pembina Pipeline by 12.6% during the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after purchasing an additional 717,773 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.