Envestnet Asset Management Inc. Purchases 7,528 Shares of Pembina Pipeline Corp. $PBA

Envestnet Asset Management Inc. increased its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.3% during the 2nd quarter, Holdings Channel reports. The firm owned 328,915 shares of the pipeline company’s stock after buying an additional 7,528 shares during the period. Envestnet Asset Management Inc.’s holdings in Pembina Pipeline were worth $12,338,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. N.E.W. Advisory Services LLC bought a new position in Pembina Pipeline during the 1st quarter valued at approximately $27,000. Larson Financial Group LLC increased its stake in shares of Pembina Pipeline by 53.4% during the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after buying an additional 467 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Pembina Pipeline during the second quarter valued at approximately $66,000. MassMutual Private Wealth & Trust FSB lifted its stake in Pembina Pipeline by 11.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,436 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 352 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Pembina Pipeline by 8.9% in the second quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company’s stock worth $142,000 after acquiring an additional 307 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 2.8%

Shares of Pembina Pipeline stock opened at $37.12 on Friday. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44. The firm has a market cap of $21.57 billion, a price-to-earnings ratio of 17.43 and a beta of 0.75. The company has a 50-day moving average of $38.88 and a 200 day moving average of $37.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The business had revenue of $911.47 million for the quarter, compared to the consensus estimate of $1.42 billion. Pembina Pipeline had a return on equity of 12.27% and a net margin of 23.24%.The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, December 15th. Pembina Pipeline’s payout ratio is currently 96.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PBA. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pembina Pipeline in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.