Pembina Pipeline (NYSE:PBA) Coverage Initiated at Barclays

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

Other equities analysts have also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Raymond James started coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Finally, UBS Group initiated coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Down 0.6 %

Shares of NYSE PBA opened at $38.35 on Thursday. 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 company has a market cap of $22.26 billion, a P/E ratio of 15.85 and a beta of 1.24. Pembina Pipeline has a 52 week low of $32.39 and a 52 week high of $43.44. The business has a 50-day simple moving average of $41.57 and a two-hundred day simple moving average of $39.67.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 84.30%.

Institutional Trading of Pembina Pipeline

A number of hedge funds have recently made changes to their positions in PBA. Godsey & Gibb Inc. bought a new position in Pembina Pipeline in the third quarter valued at $25,000. Prospera Private Wealth LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. lifted its position 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 buying an additional 508 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

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.