FY2024 EPS Forecast for Pembina Pipeline Reduced by Analyst

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) – Stock analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for Pembina Pipeline in a report released on Wednesday, November 6th. Raymond James analyst M. Barth now expects that the pipeline company will post earnings of $2.24 per share for the year, down from their prior forecast of $2.45. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Pembina Pipeline’s current full-year earnings is $2.38 per share. Raymond James also issued estimates for Pembina Pipeline’s FY2025 earnings at $2.35 EPS and FY2026 earnings at $2.43 EPS.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 30.5% on a year-over-year basis.

A number of other brokerages also recently weighed in on PBA. UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $40.97 on Friday. The business’s 50-day simple moving average is $41.63 and its 200 day simple moving average is $38.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.65. The company has a market cap of $23.78 billion, a P/E ratio of 16.93 and a beta of 1.25. Pembina Pipeline has a one year low of $31.51 and a one year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 6.74%. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP increased its position in shares of Pembina Pipeline by 10,862.7% in the 1st quarter. Quantbot Technologies LP now owns 32,340 shares of the pipeline company’s stock valued at $1,143,000 after buying an additional 32,045 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Pembina Pipeline by 248.9% during the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after buying an additional 22,790 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in Pembina Pipeline by 13,721.7% during the first quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after purchasing an additional 72,176 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Pembina Pipeline in the 1st quarter valued at about $1,387,000. Finally, Vanguard Group Inc. grew its stake in Pembina Pipeline by 2.1% in the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after purchasing an additional 460,761 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.