Brokerages Set Pembina Pipeline Co. (NYSE:PBA) PT at $56.50

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) have received a consensus recommendation of “Hold” from the four brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $56.50.

Several analysts have commented on PBA shares. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup boosted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company.

Pembina Pipeline Stock Down 0.1 %

PBA stock opened at $41.19 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. Pembina Pipeline has a 52 week low of $32.39 and a 52 week high of $43.44. The firm has a 50 day moving average of $41.97 and a 200 day moving average of $39.43. The stock has a market capitalization of $23.91 billion, a PE ratio of 17.02 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.70%. Pembina Pipeline’s payout ratio is presently 84.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank lifted its position in Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Pembina Pipeline by 56.9% in 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 buying an additional 3,043,200 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after purchasing an additional 1,319,709 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Pembina Pipeline by 83.2% during the third quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after purchasing an additional 897,940 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Pembina Pipeline by 2,256.3% during the second quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock worth $24,094,000 after purchasing an additional 622,202 shares in the last quarter. Institutional investors and hedge funds 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.