Pembina Pipeline (NYSE:PBA) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) in a report issued on Thursday, Marketbeat reports. The brokerage issued an overweight rating on the pipeline company’s stock.

Several other equities analysts have also issued reports on PBA. UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Citigroup lifted 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. Finally, Raymond James started coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Price Performance

PBA opened at $38.60 on Thursday. The stock has a 50-day moving average price of $41.65 and a 200-day moving average price of $39.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a market cap of $22.41 billion, a PE ratio of 15.96 and a beta of 1.24. Pembina Pipeline has a 1 year low of $32.39 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 7.15%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 84.30%.

Institutional Investors Weigh In On Pembina Pipeline

A number of large investors have recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after purchasing an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the period. CIBC Asset Management Inc grew its stake in shares of Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after purchasing an additional 481,285 shares during the period. TD Asset Management Inc grew its stake in shares of Pembina Pipeline by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock valued at $176,571,000 after purchasing an additional 44,441 shares during the period. Finally, Tortoise Capital Advisors L.L.C. grew its stake in shares of Pembina Pipeline by 6.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock valued at $168,512,000 after purchasing an additional 291,486 shares during the period. 55.37% of the stock is currently owned by institutional investors.

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.