Pembina Pipeline (NYSE:PBA) Raised to “Buy” at Citigroup

Citigroup upgraded shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a neutral rating to a buy rating in a research report released on Monday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Trading Up 1.3 %

Shares of PBA opened at $38.80 on Monday. Pembina Pipeline has a twelve month low of $33.83 and a twelve month high of $43.44. 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 company’s fifty day simple moving average is $36.94 and its 200-day simple moving average is $39.36. The company has a market cap of $22.53 billion, a P/E ratio of 16.03 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBA. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Prospera Private Wealth LLC bought a new position in Pembina Pipeline in the third quarter worth approximately $26,000. Dunhill Financial LLC purchased a new stake in Pembina Pipeline during the third quarter worth $28,000. Versant Capital Management Inc bought a new stake in Pembina Pipeline during the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter valued at $27,000. 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.