Zacks Investment Research lowered shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a hold rating to a strong sell rating in a report published on Thursday.
According to Zacks, “Pembina Pipeline Corporation operates as an energy transportation and service provider. The Company operates in four segments; Conventional Pipelines, Oil Sands & Heavy Oil, Midstream & Marketing, and Gas Services. The Conventional Pipelines segment operates a pipeline network that transports crude oil, condensate, and natural gas liquids in Alberta and British Columbia. The Oil Sands & Heavy Oil segment owns and operates pipelines which deliver synthetic crude oil produced from oil sands. The Midstream & Marketing segment offers storage, terminal, and hub services. The Gas Services segment consists of natural gas gathering and processing facilities. Pembina Pipeline Corporation, formerly known as Pembina Pipeline Income Fund, is headquartered in Calgary, Canada. “
Separately, ValuEngine raised Pembina Pipeline from a sell rating to a hold rating in a research note on Friday, August 3rd.
Pembina Pipeline traded down $0.33, reaching $35.12, during trading on Thursday, MarketBeat reports. 717,244 shares of the stock were exchanged, compared to its average volume of 442,719. Pembina Pipeline has a twelve month low of $29.28 and a twelve month high of $36.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.58. The company has a market cap of $17.88 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 3.56 and a beta of 0.68.
The company also recently declared a monthly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be paid a dividend of $0.146 per share. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13. This represents a $1.75 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, August 23rd. Pembina Pipeline’s dividend payout ratio is 130.83%.
Hedge funds have recently bought and sold shares of the stock. Gideon Capital Advisors Inc. grew its holdings in shares of Pembina Pipeline by 21.4% in the second quarter. Gideon Capital Advisors Inc. now owns 8,532 shares of the pipeline company’s stock valued at $295,000 after acquiring an additional 1,506 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Pembina Pipeline by 2.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,200 shares of the pipeline company’s stock valued at $1,967,000 after purchasing an additional 1,600 shares during the last quarter. BB&T Securities LLC lifted its stake in Pembina Pipeline by 32.7% in the first quarter. BB&T Securities LLC now owns 7,346 shares of the pipeline company’s stock valued at $229,000 after purchasing an additional 1,810 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Pembina Pipeline by 49.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,171 shares of the pipeline company’s stock valued at $223,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Pembina Pipeline by 24.5% in the second quarter. Raymond James Trust N.A. now owns 11,875 shares of the pipeline company’s stock valued at $411,000 after purchasing an additional 2,338 shares during the last quarter. 45.85% of the stock is currently owned by institutional investors and hedge funds.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
See Also: Diversification
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