Pembina Pipeline (NYSE:PBA) Reaches New 52-Week High – What’s Next?

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $43.44 and last traded at $42.93, with a volume of 1205675 shares trading hands. The stock had previously closed at $43.17.

Analyst Ratings Changes

A number of research analysts have weighed in on PBA shares. Raymond James assumed coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. Citigroup increased their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, UBS Group initiated coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline currently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

The company has a fifty day moving average price of $41.89 and a two-hundred day moving average price of $39.26. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 17.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.43%. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

Hedge Funds Weigh In On Pembina Pipeline

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Pembina Pipeline by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,715,428 shares of the pipeline company’s stock worth $113,531,000 after purchasing an additional 251,982 shares during the last quarter. Barclays PLC raised its stake in Pembina Pipeline by 86.5% in the third quarter. Barclays PLC now owns 53,970 shares of the pipeline company’s stock valued at $2,226,000 after buying an additional 25,031 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Pembina Pipeline during the 3rd quarter worth about $2,094,000. MML Investors Services LLC bought a new position in shares of Pembina Pipeline during the third quarter worth approximately $228,000. Finally, Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the third quarter valued at about $28,000. 55.37% of the stock is owned by institutional investors and hedge funds.

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.