CIBC Reiterates Buy Rating for Pembina Pipeline (PBA)

Pembina Pipeline (NYSE:PBA) (TSE:PPL)‘s stock had its “buy” rating reissued by CIBC in a research note issued to investors on Friday.

Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Pembina Pipeline has an average rating of “Buy” and an average target price of $40.00.

Shares of NYSE:PBA traded down $0.24 during midday trading on Friday, hitting $32.72. 67,066 shares of the stock traded hands, compared to its average volume of 495,706. The company has a market cap of $16.38 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 3.14 and a beta of 0.64. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. Pembina Pipeline has a one year low of $29.28 and a one year high of $36.99.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.21 billion. Pembina Pipeline had a net margin of 17.40% and a return on equity of 10.09%. As a group, research analysts forecast that Pembina Pipeline will post 1.72 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. purchased a new position in shares of Pembina Pipeline during the second quarter valued at about $203,334,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pembina Pipeline by 105.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,554,569 shares of the pipeline company’s stock valued at $157,642,000 after buying an additional 2,340,323 shares during the period. Toronto Dominion Bank increased its position in shares of Pembina Pipeline by 53.8% during the second quarter. Toronto Dominion Bank now owns 4,049,255 shares of the pipeline company’s stock valued at $140,371,000 after buying an additional 1,415,657 shares during the period. NN Investment Partners Holdings N.V. increased its position in shares of Pembina Pipeline by 1,383.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 3,721,470 shares of the pipeline company’s stock valued at $128,762,000 after buying an additional 3,470,534 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of Pembina Pipeline by 1.7% during the second quarter. Great West Life Assurance Co. Can now owns 3,645,448 shares of the pipeline company’s stock valued at $126,640,000 after buying an additional 62,411 shares during the period. Institutional investors own 47.10% of the company’s stock.

About Pembina Pipeline

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.

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