Pembina Pipeline (NYSE:PBA) Upgraded 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 report published on Monday morning, Marketbeat Ratings reports.

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

Pembina Pipeline Price Performance

NYSE:PBA opened at $38.52 on Monday. Pembina Pipeline has a one year low of $33.83 and a one year high of $43.44. The stock has a market cap of $22.36 billion, a PE ratio of 15.92 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a 50 day moving average price of $36.87 and a 200 day moving average price of $39.37.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.97%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Institutional Trading of Pembina Pipeline

Several institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in shares of Pembina Pipeline by 22.0% in the third quarter. US Bancorp DE now owns 11,161 shares of the pipeline company’s stock valued at $460,000 after buying an additional 2,014 shares in the last quarter. Entropy Technologies LP purchased a new position in Pembina Pipeline during the 3rd quarter valued at about $961,000. Cumberland Partners Ltd grew its position in Pembina Pipeline by 1.6% in the 3rd quarter. Cumberland Partners Ltd now owns 95,847 shares of the pipeline company’s stock valued at $3,955,000 after acquiring an additional 1,464 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 334 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Pembina Pipeline during the third quarter worth about $284,000. Institutional investors and hedge funds 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.