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

Pembina Pipeline (NYSE:PBA) (TSE:PPL) was downgraded by Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

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

Pembina Pipeline Trading Up 0.6 %

NYSE:PBA opened at $36.07 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $41.10 and its 200-day simple moving average is $39.65. Pembina Pipeline has a 12-month low of $32.81 and a 12-month high of $43.44. The firm has a market cap of $20.94 billion, a P/E ratio of 14.90 and a beta of 1.24.

Hedge Funds Weigh In On Pembina Pipeline

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

Pembina Pipeline Company Profile

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.