Barclays Begins Coverage on Pembina Pipeline (NYSE:PBA)

Barclays assumed coverage on shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating on the pipeline company’s stock.

A number of other analysts have also recently commented on PBA. Citigroup increased their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Raymond James started coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Finally, UBS Group began coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Trading Down 0.6 %

NYSE PBA opened at $38.35 on Thursday. Pembina Pipeline has a 12 month low of $32.39 and a 12 month high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average of $41.57 and a 200-day moving average of $39.65. The company has a market cap of $22.26 billion, a PE ratio of 15.85 and a beta of 1.24.

Institutional Trading of Pembina Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of PBA. Toronto Dominion Bank raised its holdings in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after acquiring an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Pembina Pipeline by 8.1% during the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after purchasing an additional 481,285 shares during the period. TD Asset Management Inc lifted its holdings in Pembina Pipeline by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock worth $176,571,000 after purchasing an additional 44,441 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in Pembina Pipeline by 6.9% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock valued at $168,512,000 after purchasing an additional 291,486 shares during the period. Institutional investors 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.