Credit Suisse Downgrades Pembina Pipeline Corp to Neutral

Brokerage firm Credit Suisse Downgrades its rating on Pembina Pipeline Corp(NYSE:PBA). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jun 20, 2016.

Pembina Pipeline Corp (PBA) shares turned negative on Fridays trading session with the shares closing down -1.02 points or -3.35% at a volume of 2,34,767. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.83. The peak price level was also seen at $29.83 while the days lowest was $28.99. Finally the shares closed at $29.47. The 52-week high of the shares is $34.13 while the 52-week low is $17.875. According to the latest information available, the market cap of the company is $11,434 M.

Pembina Pipeline Corp(PBA) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $793.26M. Analysts had an estimated revenue of $1.34B. Earnings per share were $0.18. Analysts had estimated an EPS of $0.31.

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.

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