Pembina Pipeline Corp (PBA) is Downgraded by Credit Suisse to Neutral

Pembina Pipeline Corp (PBA) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 20, 2016.

On the company’s financial health, Pembina Pipeline Corp reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.30. The company had revenue of $1017.00 million for the quarter, compared to analysts expectations of $1362.34 million. The company’s revenue was down -11.9 % compared to the same quarter last year.

Pembina Pipeline Corp opened for trading at $30.28 and hit $30.69 on the upside on Friday, eventually ending the session at $30.55, with a gain of 2.11% or 0.63 points. The heightened volatility saw the trading volume jump to 2,05,878 shares. Company has a market cap of $11,853 M.

Investors should note that on Jun 7, 2016, Pembina Pipeline Corp announced a cash dividend of $0.1600. The company’s management has announced Jun 22, 2016 as the ex-dividend date and fixed the record date on Jun 24, 2016. The payable date has been fixed on Jul 15, 2016.

Pembina Pipeline Corporation (Pembina) is an energy transportation and service provider. The Company operates through four segments: Conventional Pipelines Oil Sands & Heavy Oil Gas Services and Midstream. Conventional Pipelines consists of the tariff-based operations of pipelines and related facilities to deliver crude oil condensate and natural gas liquids (NGL) in Alberta British Columbia Saskatchewan and North Dakota United States. Oil Sands & Heavy Oil consists of the Syncrude Horizon Nipisi and Mitsue Pipelines and the Cheecham Lateral. Gas Services consists of natural gas gathering and processing facilities including approximately 7 gas plants approximately 12 compressor stations and over 375 kilometres of gathering systems. Midstream consists of the Company’s interests in extraction and fractionation facilities terminalling and storage hub services.

Pembina Pipeline Corp

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