Atb Cap Markets Issues Pessimistic Forecast for PBA Earnings

Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL - Atb Cap Markets reduced their Q3 2024 earnings per share estimates for Pembina Pipeline in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.64. The consensus estimate for Pembina Pipeline's current full-year earnings is $2.40 per share. Atb Cap Markets also issued estimates for Pembina Pipeline's FY2024 earnings at $2.26 EPS.

Other equities analysts also recently issued research reports about the company. UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a "neutral" rating for the company. Citigroup increased their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 28th. Finally, Raymond James initiated coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.50.

Pembina Pipeline Stock Down 0.2 %

PBA traded down $0.08 during trading on Friday, reaching $42.52. The stock had a trading volume of 376,075 shares, compared to its average volume of 1,128,597. The stock's 50 day moving average is $41.14 and its two-hundred day moving average is $38.33. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 5.97 and a beta of 1.25. Pembina Pipeline has a one year low of $30.25 and a one year high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm's revenue was up 30.5% on a year-over-year basis.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 4.70%. Pembina Pipeline's payout ratio is presently 85.00%.

Hedge Funds Weigh In On Pembina Pipeline

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company's stock valued at $779,372,000 after acquiring an additional 460,761 shares in the last quarter. Toronto Dominion Bank increased 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 worth $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company's stock worth $311,142,000 after buying an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd increased its holdings in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company's stock worth $253,496,000 after buying an additional 784,814 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Pembina Pipeline by 7.5% in the 2nd quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company's stock worth $219,689,000 after buying an additional 414,419 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

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.