Brokerages Set Pembina Pipeline Co. (NYSE:PBA) Target Price at $56.50

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) has received an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $56.50.

Several equities analysts have recently issued reports on PBA shares. Barclays began coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Raymond James initiated coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Citigroup boosted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Pembina Pipeline Stock Up 0.9 %

PBA opened at $36.89 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline has a 1 year low of $32.81 and a 1 year high of $43.44. The firm has a 50 day moving average price of $40.86 and a 200 day moving average price of $39.68. The company has a market cap of $21.42 billion, a PE ratio of 15.24 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.48%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Institutional Investors Weigh In On Pembina Pipeline

Several hedge funds have recently bought and sold shares of the company. Godsey & Gibb Inc. acquired a new stake in Pembina Pipeline during the 3rd quarter worth $25,000. Prospera Private Wealth LLC bought a new stake in shares of Pembina Pipeline in the third quarter worth about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Pembina Pipeline during the third quarter worth about $26,000. Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at approximately $28,000. Finally, Blue Trust Inc. increased its stake in Pembina Pipeline by 223.8% during the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

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.