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

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL was downgraded by equities researchers at Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Raymond James started coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an "outperform" rating on the stock. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an "overweight" rating on the stock. UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a "neutral" rating for the company. Finally, Citigroup raised their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $56.50.

Pembina Pipeline Trading Up 0.9 %

Shares of PBA stock traded up $0.34 during trading hours on Wednesday, reaching $36.41. 1,007,112 shares of the stock were exchanged, compared to its average volume of 1,147,841. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline has a 12-month low of $32.81 and a 12-month high of $43.44. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 15.05 and a beta of 1.24. The company's 50-day moving average price is $40.97 and its 200-day moving average price is $39.65.

Institutional Trading of Pembina Pipeline

A number of hedge funds have recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC boosted its position in Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company's stock valued at $286,000 after acquiring an additional 273 shares in the last quarter. CENTRAL TRUST Co lifted its stake in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company's stock worth $34,000 after purchasing an additional 325 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company's stock valued at $770,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company's stock valued at $65,000 after purchasing an additional 387 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its holdings in Pembina Pipeline by 4.2% in the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company's stock worth $453,000 after purchasing an additional 439 shares in the last quarter. 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.