Credit Suisse Group Upgrades Pembina Pipeline (NYSE:PBA) to Outperform

Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) was upgraded by Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report issued on Thursday, The Fly reports.

Other research analysts have also recently issued reports about the stock. CIBC lifted their price target on shares of Pembina Pipeline from C$52.00 to C$53.00 in a research report on Monday, February 27th. StockNews.com began coverage on shares of Pembina Pipeline in a research note on Thursday, May 18th. They set a “hold” rating on the stock. National Bank Financial lifted their price objective on shares of Pembina Pipeline from C$46.00 to C$47.00 in a research note on Friday, January 27th. Finally, Scotiabank lifted their price objective on shares of Pembina Pipeline from C$50.00 to C$51.00 in a research note on Monday, February 27th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.20.

Pembina Pipeline Trading Up 0.7 %

Shares of PBA stock opened at $30.79 on Thursday. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 4.92 and a beta of 1.28. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.70. Pembina Pipeline has a fifty-two week low of $29.59 and a fifty-two week high of $42.74. The firm’s 50 day moving average price is $32.16 and its two-hundred day moving average price is $33.59.

Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) last announced its quarterly earnings results on Thursday, February 23rd. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.23). The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 26.15% and a return on equity of 14.59%. On average, analysts anticipate that Pembina Pipeline will post 2.07 EPS for the current year.

Institutional Trading of Pembina Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pictet Asset Management SA increased its stake in shares of Pembina Pipeline by 15.2% in the third quarter. Pictet Asset Management SA now owns 286,670 shares of the pipeline company’s stock worth $8,754,000 after buying an additional 37,900 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in Pembina Pipeline in the fourth quarter worth $6,518,000. Russell Investments Group Ltd. boosted its holdings in Pembina Pipeline by 6.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,952,614 shares of the pipeline company’s stock worth $66,233,000 after purchasing an additional 117,747 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Pembina Pipeline by 7.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the pipeline company’s stock worth $520,000 after purchasing an additional 1,203 shares during the period. Finally, Old North State Trust LLC boosted its holdings in Pembina Pipeline by 96,400.0% in the third quarter. Old North State Trust LLC now owns 5,790 shares of the pipeline company’s stock worth $176,000 after purchasing an additional 5,784 shares during the period. Institutional investors own 55.08% of the company’s stock.

Pembina Pipeline Company Profile

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Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.