Scotiabank Downgrades Pembina Pipeline (NYSE:PBA) to Hold

Scotiabank cut shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a strong-buy rating to a hold rating in a report issued on Sunday morning, Zacks.com reports.

Several other equities research analysts have also issued reports on PBA. StockNews.com lowered Pembina Pipeline from a buy rating to a hold rating in a research note on Monday, May 13th. CIBC boosted their price target on Pembina Pipeline from $56.00 to $57.00 and gave the company an outperformer rating in a report on Friday, April 19th. Finally, TheStreet upgraded Pembina Pipeline from a c rating to a b- rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of Hold and an average price target of $52.00.

Pembina Pipeline Stock Down 1.4 %

Shares of NYSE:PBA opened at $36.63 on Friday. The business’s 50 day simple moving average is $35.58 and its two-hundred day simple moving average is $34.46. The firm has a market cap of $21.22 billion, a P/E ratio of 15.92, a PEG ratio of 5.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. Pembina Pipeline has a 52-week low of $28.15 and a 52-week high of $37.47.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.83 billion. Pembina Pipeline had a return on equity of 13.33% and a net margin of 21.61%. As a group, research analysts forecast that Pembina Pipeline will post 2.27 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.501 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Monday, June 17th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. Pembina Pipeline’s dividend payout ratio is presently 85.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PBA. Massmutual Trust Co. FSB ADV lifted its stake in Pembina Pipeline by 22.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Pembina Pipeline by 74.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 462 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Pembina Pipeline by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the pipeline company’s stock worth $335,000 after purchasing an additional 538 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Pembina Pipeline by 3.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 15,872 shares of the pipeline company’s stock worth $549,000 after buying an additional 547 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in shares of Pembina Pipeline by 15.9% during the fourth quarter. Gulf International Bank UK Ltd now owns 3,999 shares of the pipeline company’s stock worth $137,000 after buying an additional 550 shares during the period. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

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.