Linscomb & Williams Inc. acquired a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,500 shares of the pipeline company’s stock, valued at approximately $116,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Girard Partners LTD. lifted its stake in shares of Pembina Pipeline Corp. by 0.9% in the 2nd quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 97 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Pembina Pipeline Corp. by 21.4% in the 2nd quarter. Fiera Capital Corp now owns 1,884,414 shares of the pipeline company’s stock valued at $62,606,000 after purchasing an additional 332,531 shares in the last quarter. Aviva PLC lifted its stake in shares of Pembina Pipeline Corp. by 1.7% in the 2nd quarter. Aviva PLC now owns 248,929 shares of the pipeline company’s stock valued at $8,233,000 after purchasing an additional 4,210 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Pembina Pipeline Corp. by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 1,685,920 shares of the pipeline company’s stock valued at $55,842,000 after purchasing an additional 13,345 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Pembina Pipeline Corp. by 5.2% in the 2nd quarter. Creative Planning now owns 50,515 shares of the pipeline company’s stock valued at $1,673,000 after purchasing an additional 2,495 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Pembina Pipeline Corp. (PBA) traded up 0.20% during midday trading on Friday, hitting $34.37. The company had a trading volume of 69,753 shares. Pembina Pipeline Corp. has a one year low of $27.44 and a one year high of $35.63. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 32.64 and a beta of 0.73. The company’s 50 day moving average is $33.77 and its 200 day moving average is $32.94.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.08). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Equities analysts forecast that Pembina Pipeline Corp. will post $1.27 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.144 per share. This represents a $1.73 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, October 24th. This is an increase from Pembina Pipeline Corp.’s previous monthly dividend of $0.14. Pembina Pipeline Corp.’s dividend payout ratio is 168.04%.
Several equities analysts have recently weighed in on PBA shares. BidaskClub raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Pembina Pipeline Corp. has a consensus rating of “Buy” and an average price target of $43.00.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment 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.
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