Zacks Investment Research Lowers Pembina Pipeline (NYSE:PBA) to Hold

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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 issued research reports about the company. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. CIBC reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Monday, November 4th. Finally, Credit Suisse Group set a $58.00 target price on Pembina Pipeline and gave the company a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Pembina Pipeline currently has a consensus rating of “Buy” and a consensus price target of $49.00.

NYSE:PBA traded up $0.14 on Thursday, hitting $35.57. 853,774 shares of the stock were exchanged, compared to its average volume of 632,704. The stock has a market cap of $18.13 billion, a PE ratio of 20.10, a PEG ratio of 3.42 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67. The stock has a fifty day moving average of $35.99 and a 200-day moving average of $36.49. Pembina Pipeline has a fifty-two week low of $28.30 and a fifty-two week high of $38.56.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.78 billion. Pembina Pipeline had a return on equity of 14.01% and a net margin of 23.79%. The firm’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts predict that Pembina Pipeline will post 2.07 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its stake in shares of Pembina Pipeline by 1.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 396,574 shares of the pipeline company’s stock valued at $14,766,000 after buying an additional 5,574 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Pembina Pipeline by 74.3% in the second quarter. Bank of America Corp DE now owns 825,850 shares of the pipeline company’s stock valued at $30,730,000 after buying an additional 352,056 shares in the last quarter. Beach Investment Counsel Inc. PA grew its stake in shares of Pembina Pipeline by 14.7% in the second quarter. Beach Investment Counsel Inc. PA now owns 17,130 shares of the pipeline company’s stock valued at $637,000 after buying an additional 2,200 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Pembina Pipeline by 15.9% in the second quarter. TD Asset Management Inc. now owns 7,704,425 shares of the pipeline company’s stock valued at $287,422,000 after buying an additional 1,058,770 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Pembina Pipeline by 0.8% in the second quarter. Janus Henderson Group PLC now owns 212,018 shares of the pipeline company’s stock valued at $7,902,000 after buying an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 52.80% of the company’s stock.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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