Pembina Pipeline (NYSE:PBA) (TSE:PPL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, December 20th.
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, Macquarie lowered shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Pembina Pipeline presently has a consensus rating of “Hold” and a consensus target price of $39.00.
Shares of Pembina Pipeline (PBA) traded up $0.08 on Wednesday, reaching $35.43. 455,200 shares of the company’s stock were exchanged, compared to its average volume of 494,604. The stock has a market cap of $17,780.00, a price-to-earnings ratio of 35.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.60 and a current ratio of 0.78. Pembina Pipeline has a 1-year low of $30.32 and a 1-year high of $36.99.
Hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. bought a new stake in shares of Pembina Pipeline during the 2nd quarter valued at $146,000. Linscomb & Williams Inc. bought a new stake in shares of Pembina Pipeline during the 2nd quarter valued at $116,000. San Francisco Sentry Investment Group CA bought a new stake in shares of Pembina Pipeline during the 2nd quarter valued at $132,000. Benchmark Capital Advisors bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at $204,000. Finally, Cidel Asset Management Inc. bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at $206,000. 42.34% of the stock is owned by hedge funds and other institutional investors.
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About Pembina Pipeline
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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