Scotiabank Predicts Weaker Earnings for Pembina Pipeline

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Stock analysts at Scotiabank reduced their FY2024 earnings estimates for Pembina Pipeline in a research report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the pipeline company will post earnings of $2.11 per share for the year, down from their prior estimate of $2.43. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.25 per share. Scotiabank also issued estimates for Pembina Pipeline’s FY2025 earnings at $2.16 EPS.

A number of other research firms have also recently issued reports on PBA. Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Raymond James began coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Trading Up 1.0 %

Shares of NYSE:PBA opened at $36.72 on Monday. The firm has a fifty day moving average of $39.04 and a two-hundred day moving average of $39.68. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline has a 12-month low of $32.81 and a 12-month high of $43.44. The firm has a market capitalization of $21.32 billion, a P/E ratio of 15.17 and a beta of 1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its holdings in shares of Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after buying an additional 3,043,200 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Pembina Pipeline by 8.1% during the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after buying an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Pembina Pipeline by 15.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after acquiring an additional 550,491 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.69 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.52%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is presently 80.58%.

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.