Zacks Research Analysts Raise Earnings Estimates for Pembina Pipeline Co. (NYSE:PBA)

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Equities researchers at Zacks Research upped their Q2 2024 earnings estimates for shares of Pembina Pipeline in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst T. Saha now forecasts that the pipeline company will post earnings per share of $0.42 for the quarter, up from their prior forecast of $0.40. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.28 per share. Zacks Research also issued estimates for Pembina Pipeline’s Q3 2024 earnings at $0.54 EPS, Q4 2024 earnings at $0.62 EPS, Q1 2026 earnings at $0.78 EPS and FY2026 earnings at $2.59 EPS.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.83 billion.

PBA has been the subject of a number of other research reports. TheStreet raised Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.33.

Pembina Pipeline Stock Performance

Shares of NYSE PBA traded down $0.06 during mid-day trading on Wednesday, reaching $34.14. 681,801 shares of the company’s stock were exchanged, compared to its average volume of 1,054,716. Pembina Pipeline has a 52 week low of $28.15 and a 52 week high of $36.17. The firm has a 50-day moving average price of $34.81 and a two-hundred day moving average price of $33.45. The firm has a market capitalization of $19.78 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 5.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.82 and a quick ratio of 0.71.

Institutional Trading of Pembina Pipeline

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its position in shares of Pembina Pipeline by 1.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,388 shares of the pipeline company’s stock valued at $1,143,000 after acquiring an additional 438 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pembina Pipeline by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 575,920 shares of the pipeline company’s stock valued at $21,655,000 after buying an additional 3,604 shares in the last quarter. American Century Companies Inc. grew its stake in Pembina Pipeline by 53.4% during the 1st quarter. American Century Companies Inc. now owns 39,699 shares of the pipeline company’s stock worth $1,492,000 after purchasing an additional 13,820 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Pembina Pipeline by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,446 shares of the pipeline company’s stock worth $656,000 after buying an additional 1,420 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Pembina Pipeline by 20.3% in the 1st quarter. HighTower Advisors LLC now owns 39,252 shares of the pipeline company’s stock valued at $1,478,000 after purchasing an additional 6,629 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.4944 per share. This represents a $1.98 annualized dividend and a yield of 5.79%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, March 14th. Pembina Pipeline’s payout ratio is 89.14%.

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.