Nykredit A S purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 296,833 shares of the pipeline company’s stock, valued at approximately $13,729,000.
A number of other large investors also recently modified their holdings of PBA. Cardinal Capital Management Inc. increased its holdings in Pembina Pipeline by 2.2% in the second quarter. Cardinal Capital Management Inc. now owns 3,634,579 shares of the pipeline company’s stock valued at $167,835,000 after buying an additional 79,578 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Pembina Pipeline during the 2nd quarter worth about $174,133,000. Nicola Wealth Management LTD. boosted its position in shares of Pembina Pipeline by 28.0% during the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock worth $37,638,000 after acquiring an additional 216,300 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $262,233,000. Finally, J. Goldman & Co LP purchased a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $2,115,000. 55.37% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.
Pembina Pipeline Trading Down 0.4%
NYSE:PBA opened at $48.42 on Friday. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $48.77 and its 200-day simple moving average is $46.77. The firm has a market cap of $28.16 billion, a P/E ratio of 23.74 and a beta of 0.58.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.23 EPS for the current year.
Pembina Pipeline Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. Pembina Pipeline’s dividend payout ratio is currently 104.41%.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.
The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.
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