Pembina Pipeline (NYSE:PBA) Lowered to Hold Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating on the stock. UBS Group started coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Citigroup upped their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $36.41 on Wednesday. The firm’s 50-day moving average price is $40.97 and its 200-day moving average price is $39.65. Pembina Pipeline has a 52-week low of $32.81 and a 52-week high of $43.44. The company has a market cap of $21.14 billion, a PE ratio of 15.05 and a beta of 1.24. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.58%. Pembina Pipeline’s payout ratio is presently 84.30%.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Godsey & Gibb Inc. purchased a new stake in Pembina Pipeline in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at approximately $26,000. Prospera Private Wealth LLC purchased a new stake in Pembina Pipeline in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline during the 3rd quarter worth approximately $28,000. Finally, Blue Trust Inc. lifted its holdings in Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Company Profile

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.