Pembina Pipeline (NYSE:PBA) Sets New 52-Week High – Here’s What Happened
by Michael Walen · The Markets DailyPembina Pipeline Corp. (NYSE:PBA – Get Free Report) (TSE:PPL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.59 and last traded at $43.17, with a volume of 1123744 shares changing hands. The stock had previously closed at $43.13.
Analyst Ratings Changes
PBA has been the subject of several recent research reports. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. TD Securities reduced their price objective on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.
View Our Latest Stock Report on PBA
Pembina Pipeline Stock Performance
The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. The stock’s 50 day moving average price is $39.30 and its 200 day moving average price is $38.64. The company has a market capitalization of $25.34 billion, a P/E ratio of 21.81 and a beta of 0.68.
Institutional Investors Weigh In On Pembina Pipeline
Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in Pembina Pipeline in the first quarter worth approximately $374,000. Focus Partners Wealth acquired a new stake in shares of Pembina Pipeline during the 1st quarter worth approximately $312,000. Yousif Capital Management LLC increased its stake in shares of Pembina Pipeline by 9.9% in the 2nd quarter. Yousif Capital Management LLC now owns 6,764 shares of the pipeline company’s stock valued at $254,000 after acquiring an additional 610 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Pembina Pipeline by 22.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,657 shares of the pipeline company’s stock valued at $737,000 after acquiring an additional 3,597 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Pembina Pipeline during the 2nd quarter valued at $364,000. Institutional investors own 55.37% of the company’s stock.
About Pembina Pipeline
Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.
The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.