Pembina Pipeline (NYSE:PBA) Upgraded at Citigroup

Citigroup upgraded shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a neutral rating to a buy rating in a report released on Monday morning, MarketBeat.com reports.

PBA has been the topic of several other reports. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Trading Up 1.3 %

Pembina Pipeline stock opened at $38.80 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline has a 12-month low of $33.83 and a 12-month high of $43.44. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 16.03 and a beta of 1.26. The firm has a 50 day moving average of $36.94 and a 200 day moving average of $39.36.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.93%. Pembina Pipeline’s dividend payout ratio (DPR) is 86.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PBA. Prospera Private Wealth LLC purchased a new stake in Pembina Pipeline during the third quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Pembina Pipeline in the 3rd quarter worth about $26,000. Versant Capital Management Inc purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $27,000. Sound Income Strategies LLC bought a new position in shares of Pembina Pipeline in the 4th quarter valued at about $27,000. Finally, Dunhill Financial LLC purchased a new position in Pembina Pipeline in the third quarter worth about $28,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

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.