Pembina Pipeline (NYSE:PBA) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a buy rating to a hold rating in a research report released on Thursday morning, reports.

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. “

PBA has been the topic of a number of other research reports. Credit Suisse Group set a $58.00 target price on Pembina Pipeline and gave the company a buy rating in a report on Monday, October 21st. CIBC reiterated a buy rating on shares of Pembina Pipeline in a report on Monday, November 4th. Finally, ValuEngine upgraded Pembina Pipeline from a sell rating to a hold rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $49.00.

Shares of PBA traded up $0.14 during trading hours on Thursday, reaching $35.57. The company’s stock had a trading volume of 853,774 shares, compared to its average volume of 632,704. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 3.42 and a beta of 0.73. Pembina Pipeline has a 1-year low of $28.30 and a 1-year high of $38.56. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $35.99 and a two-hundred day moving average of $36.49.

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

The firm also recently announced a nov 19 dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a $0.20 dividend. Pembina Pipeline’s dividend payout ratio is 102.26%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. grew its stake in shares of Pembina Pipeline by 51.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock valued at $30,000 after buying an additional 274 shares in the last quarter. Phocas Financial Corp. bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $3,542,000. JNBA Financial Advisors boosted its position 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 purchasing an additional 750 shares during the period. Aperio Group LLC bought a new stake in Pembina Pipeline during the second quarter worth approximately $41,000. Finally, HM Payson & Co. bought a new stake in Pembina Pipeline during the second quarter worth approximately $42,000. 52.80% of the stock is owned by institutional investors and hedge funds.

About Pembina Pipeline

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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