Pembina Pipeline (NYSE:PBA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

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According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “

Several other research analysts have also issued reports on the company. CIBC reiterated a buy rating on shares of Pembina Pipeline in a research note on Monday, November 4th. Credit Suisse Group set a $58.00 price objective on Pembina Pipeline and gave the stock a buy rating in a research note on Monday, October 21st. Finally, ValuEngine upgraded Pembina Pipeline from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Pembina Pipeline presently has an average rating of Buy and an average target price of $49.00.

Shares of NYSE PBA traded up $0.14 during trading hours on Thursday, reaching $35.57. The stock had a trading volume of 853,774 shares, compared to its average volume of 632,704. The business’s fifty day moving average is $35.99 and its two-hundred day moving average is $36.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.90 and a quick ratio of 0.62. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.42 and a beta of 0.73. Pembina Pipeline has a twelve month low of $28.30 and a twelve month high of $38.56.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.78 billion. Pembina Pipeline had a return on equity of 14.01% and a net margin of 23.79%. Pembina Pipeline’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Sell-side analysts forecast that Pembina Pipeline will post 2.07 earnings per share for the current fiscal year.

The business also recently disclosed a nov 19 dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.20 per share. Pembina Pipeline’s dividend payout ratio is currently 102.26%.

A number of institutional investors have recently added to or reduced their stakes in PBA. Cornerstone Advisors Inc. raised its stake in Pembina Pipeline by 51.7% during the second quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 274 shares in the last quarter. Phocas Financial Corp. acquired a new position in Pembina Pipeline during the second quarter worth $35,000. JNBA Financial Advisors raised its stake in Pembina Pipeline by 371.3% during the third quarter. JNBA Financial Advisors now owns 952 shares of the pipeline company’s stock worth $35,000 after acquiring an additional 750 shares in the last quarter. Aperio Group LLC acquired a new position in Pembina Pipeline during the second quarter worth $41,000. Finally, HM Payson & Co. acquired a new position in Pembina Pipeline during the second quarter worth $42,000. Hedge funds and other institutional investors own 52.80% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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