Pembina Pipeline Corp. (NYSE:PBA) Upgraded by Zacks Investment Research to “Buy”

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $39.00 target price on the pipeline company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.72% from the stock’s current price.

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 equities analysts also recently commented on the stock. AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. BidaskClub upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, National Bank Financial upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.50.

Pembina Pipeline Corp. (PBA) opened at 34.60 on Friday. The stock’s 50 day moving average is $33.01 and its 200-day moving average is $32.23. The company has a market capitalization of $13.87 billion, a P/E ratio of 34.43 and a beta of 0.71. Pembina Pipeline Corp. has a 12-month low of $27.44 and a 12-month high of $34.97.

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Large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Pembina Pipeline Corp. by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,405 shares of the pipeline company’s stock worth $108,000 after buying an additional 520 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Pembina Pipeline Corp. by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,801 shares of the pipeline company’s stock worth $120,000 after buying an additional 335 shares during the last quarter. Huntington National Bank increased its stake in shares of Pembina Pipeline Corp. by 7.6% in the first quarter. Huntington National Bank now owns 4,803 shares of the pipeline company’s stock worth $152,000 after buying an additional 341 shares during the last quarter. Check Capital Management Inc. CA purchased a new stake in shares of Pembina Pipeline Corp. during the first quarter worth about $219,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Pembina Pipeline Corp. by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 7,129 shares of the pipeline company’s stock worth $228,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 46.23% of the company’s stock.

Pembina Pipeline Corp. Company Profile

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

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