Pembina Pipeline (NYSE:PBA) Reaches New 52-Week High – Should You Buy?

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $49.11 and last traded at $49.1240, with a volume of 80919 shares trading hands. The stock had previously closed at $48.99.

Analysts Set New Price Targets

A number of brokerages have issued reports on PBA. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada lifted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.67.

Pembina Pipeline Stock Up 0.4%

The firm has a market capitalization of $28.59 billion, a PE ratio of 25.64 and a beta of 0.58. The business’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $41.46. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company posted $0.80 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, equities research analysts forecast that Pembina Pipeline Corp. will post 2.25 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is 108.33%.

Hedge Funds Weigh In On Pembina Pipeline

Several hedge funds have recently added to or reduced their stakes in PBA. AQR Capital Management LLC bought a new position in Pembina Pipeline during the 1st quarter valued at about $374,000. Focus Partners Wealth bought a new position in Pembina Pipeline during the 1st quarter valued at about $312,000. Marshall Wace LLP bought a new position in Pembina Pipeline during the 2nd quarter valued at about $253,000. Cresset Asset Management LLC grew its holdings in Pembina Pipeline by 4.1% during the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 534 shares during the last quarter. Finally, AXA S.A. grew its holdings in Pembina Pipeline by 17.5% during the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock valued at $878,000 after purchasing an additional 3,488 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

About Pembina Pipeline

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.