Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, July 21st. The firm presently has a $39.00 target price on the pipeline company’s stock. Zacks Investment Research‘s target price points to a potential upside of 18.22% from the stock’s previous close.
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. “
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 19th. Finally, National Bank Financial upgraded Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.50.
Pembina Pipeline Corp. (PBA) opened at 32.99 on Friday. Pembina Pipeline Corp. has a 52 week low of $27.44 and a 52 week high of $34.97. The company has a market cap of $13.29 billion, a PE ratio of 32.34 and a beta of 0.71. The company’s 50-day moving average price is $33.48 and its 200 day moving average price is $32.42.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.08. Pembina Pipeline Corp. had a return on equity of 8.59% and a net margin of 12.12%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts anticipate that Pembina Pipeline Corp. will post $1.36 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of PBA. Bank of Montreal Can raised its position in Pembina Pipeline Corp. by 13.9% in the second quarter. Bank of Montreal Can now owns 12,169,430 shares of the pipeline company’s stock valued at $403,051,000 after buying an additional 1,488,648 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Pembina Pipeline Corp. by 199.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,737,700 shares of the pipeline company’s stock worth $57,545,000 after buying an additional 1,157,700 shares during the period. Jarislowsky Fraser Ltd raised its stake in shares of Pembina Pipeline Corp. by 10.0% in the second quarter. Jarislowsky Fraser Ltd now owns 12,281,783 shares of the pipeline company’s stock worth $406,177,000 after buying an additional 1,118,498 shares during the period. Jennison Associates LLC raised its stake in shares of Pembina Pipeline Corp. by 502.2% in the second quarter. Jennison Associates LLC now owns 1,271,009 shares of the pipeline company’s stock worth $42,096,000 after buying an additional 1,059,961 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Pembina Pipeline Corp. by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,479,317 shares of the pipeline company’s stock worth $300,589,000 after buying an additional 474,863 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.
About Pembina Pipeline Corp.
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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