Pembina Pipeline (NYSE:PBA) Cut to “Hold” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Citigroup lifted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Barclays assumed coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Trading Up 0.9 %

NYSE:PBA opened at $36.41 on Wednesday. The company has a 50-day moving average price of $40.97 and a 200-day moving average price of $39.65. The stock has a market cap of $21.14 billion, a price-to-earnings ratio of 15.05 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.51 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.

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 $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 7.58%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s payout ratio is 84.30%.

Hedge Funds Weigh In On Pembina Pipeline

Several large investors have recently modified their holdings of PBA. Godsey & Gibb Inc. bought a new stake in Pembina Pipeline during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Prospera Private Wealth LLC purchased a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Dunhill Financial LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $28,000. Finally, Blue Trust Inc. raised its holdings in Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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.