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

TD Securities began coverage on shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) in a research note released on Wednesday, MarketBeat.com reports. The firm issued a buy rating on the pipeline company’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. 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 assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $36.84 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 15.22 and a beta of 1.25. The stock’s fifty day simple moving average is $39.04 and its 200 day simple moving average is $39.68. Pembina Pipeline has a 52-week low of $32.81 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 7.49%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s payout ratio is presently 80.58%.

Institutional Investors Weigh In On Pembina Pipeline

A number of institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its holdings in Pembina Pipeline by 97.2% during the second 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 in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. CIBC Asset Management Inc raised its position 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 acquiring an additional 481,285 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Pembina Pipeline by 15.3% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after acquiring an additional 550,491 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after acquiring an additional 624,958 shares during 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.