FY2024 EPS Forecast for Pembina Pipeline Reduced by Analyst

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Stock analysts at Scotiabank reduced their FY2024 EPS estimates for Pembina Pipeline in a research report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the pipeline company will post earnings per share of $2.11 for the year, down from their previous forecast of $2.43. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.25 per share. Scotiabank also issued estimates for Pembina Pipeline’s FY2025 earnings at $2.16 EPS.

Several other analysts have also weighed in on the company. Barclays started coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Performance

PBA opened at $36.29 on Monday. The business has a 50 day moving average price of $39.26 and a two-hundred day moving average price of $39.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 15.00 and a beta of 1.25. Pembina Pipeline has a 1-year low of $32.81 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.61%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is currently 80.58%.

Institutional Investors Weigh In On Pembina Pipeline

A number of large investors have recently made changes to their positions in PBA. Toronto Dominion Bank raised its stake in Pembina Pipeline by 97.2% during the 2nd 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 during the period. Canada Pension Plan Investment Board grew its holdings in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after buying an additional 1,319,709 shares during the period. Intact Investment Management Inc. lifted its stake in Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after acquiring an additional 897,940 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

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.