CIBC Raises Pembina Pipeline (NYSE:PBA) Price Target to $57.00

Pembina Pipeline (NYSE:PBA) (TSE:PPL) had its price target increased by CIBC from $56.00 to $57.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperformer rating on the pipeline company’s stock.

PBA has been the topic of several other reports. TheStreet raised shares of Pembina Pipeline from a c rating to a b- rating in a research note on Thursday, February 29th. StockNews.com raised shares of Pembina Pipeline from a hold rating to a buy rating in a research note on Friday, April 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $52.00.

Pembina Pipeline Stock Up 1.7 %

Shares of NYSE PBA opened at $34.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 0.72. Pembina Pipeline has a 52 week low of $28.15 and a 52 week high of $36.17. The firm’s fifty day moving average is $34.86 and its 200 day moving average is $33.50. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 5.13 and a beta of 1.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, equities research analysts expect that Pembina Pipeline will post 2.23 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.4944 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $1.98 annualized dividend and a yield of 5.67%. Pembina Pipeline’s dividend payout ratio is 89.14%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Triasima Portfolio Management inc. bought a new position in Pembina Pipeline in the 4th quarter worth $17,285,000. Legal & General Group Plc raised its holdings in Pembina Pipeline by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 4,880,904 shares of the pipeline company’s stock worth $147,430,000 after purchasing an additional 180,798 shares in the last quarter. Baskin Financial Services Inc. raised its holdings in Pembina Pipeline by 5.0% in the 4th quarter. Baskin Financial Services Inc. now owns 196,108 shares of the pipeline company’s stock worth $6,749,000 after purchasing an additional 9,306 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pembina Pipeline by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock worth $637,949,000 after acquiring an additional 351,266 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Pembina Pipeline by 1.0% in the 3rd quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after acquiring an additional 131,487 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

About Pembina Pipeline

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.