Pembina Pipeline (NYSE:PBA) Downgraded to “Hold” Rating by Wells Fargo & Company

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

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

Pembina Pipeline Price Performance

PBA opened at $36.07 on Wednesday. The company has a fifty day moving average price of $41.10 and a two-hundred day moving average price of $39.65. The firm has a market capitalization of $20.94 billion, a PE ratio of 14.90 and a beta of 1.24. Pembina Pipeline has a 52 week low of $32.81 and a 52 week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 7.65%. The ex-dividend date is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

Institutional Investors Weigh In On Pembina Pipeline

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its position in shares of Pembina Pipeline by 14.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,024,065 shares of the pipeline company’s stock valued at $44,518,000 after acquiring an additional 127,027 shares during the period. Geode Capital Management LLC increased its holdings in shares of Pembina Pipeline by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,715,428 shares of the pipeline company’s stock worth $113,531,000 after acquiring an additional 251,982 shares during the last quarter. Barclays PLC increased its holdings in shares of Pembina Pipeline by 86.5% in the third quarter. Barclays PLC now owns 53,970 shares of the pipeline company’s stock valued at $2,226,000 after purchasing an additional 25,031 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Pembina Pipeline in the 3rd quarter valued at about $2,094,000. Finally, MML Investors Services LLC bought a new position in Pembina Pipeline in the 3rd quarter valued at about $228,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

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.