National Bank Financial Estimates PBA FY2024 Earnings

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Pembina Pipeline in a report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will earn $2.37 per share for the year, down from their previous forecast of $2.44. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.25 per share. National Bank Financial also issued estimates for Pembina Pipeline’s FY2028 earnings at $2.69 EPS.

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

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $36.96 on Wednesday. Pembina Pipeline has a 52 week low of $32.81 and a 52 week 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 stock has a market cap of $21.46 billion, a P/E ratio of 15.27 and a beta of 1.25. The stock has a 50 day moving average of $39.47 and a 200-day moving average of $39.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PBA. Toronto Dominion Bank grew its position in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Pembina Pipeline by 56.9% in 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 acquiring an additional 3,043,200 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Pembina Pipeline by 8.1% during the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after acquiring an additional 481,285 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in Pembina Pipeline by 15.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after purchasing an additional 550,491 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 7.47%. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

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.