FY2024 EPS Forecast for Pembina Pipeline Lowered by Analyst

Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL - Equities researchers at Scotiabank lowered their FY2024 earnings estimates for shares of Pembina Pipeline in a report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the pipeline company will post earnings per share of $2.11 for the year, down from their previous estimate of $2.43. The consensus estimate for Pembina Pipeline's current full-year earnings is $2.25 per share. Scotiabank also issued estimates for Pembina Pipeline's FY2025 earnings at $2.16 EPS.

Other equities research analysts have also issued research reports about the stock. Raymond James began coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an "outperform" rating on the stock. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an "overweight" rating for the company. Finally, Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Hold" and an average target price of $56.50.

Pembina Pipeline Stock Up 1.0 %

PBA traded up $0.38 during trading on Monday, hitting $36.65. 232,693 shares of the company's stock were exchanged, compared to its average volume of 1,149,941. The stock has a market cap of $21.28 billion, a P/E ratio of 15.14 and a beta of 1.25. The business's 50 day moving average is $39.26 and its two-hundred day moving average is $39.69. Pembina Pipeline has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 7.53%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.50. Pembina Pipeline's dividend payout ratio (DPR) is currently 80.58%.

Institutional Trading of Pembina Pipeline

Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in Pembina Pipeline by 97.2% in the second 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 last quarter. Canada Pension Plan Investment Board lifted its stake in 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 grew its holdings in 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 valued at $264,315,000 after purchasing an additional 481,285 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Pembina Pipeline by 15.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company's stock worth $171,360,000 after buying an additional 550,491 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock valued at $167,000,000 after buying an additional 624,958 shares during the period. 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.