135,551 Shares in Pembina Pipeline Corp. $PBA Acquired by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners acquired 135,551 Pembina Pipeline shares worth approximately $6.26 million, while institutional investors collectively own 55.37% of the company.
• Pembina’s shares opened at $48.69, near the upper end of their 52-week range. The company’s latest quarterly results slightly missed earnings and revenue expectations, though revenue increased 20.1% year over year.
• Pembina declared a quarterly dividend of $0.735 per share, equivalent to an annualized $2.94 dividend and a 6.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.

K.J. Harrison & Partners Inc acquired a new position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 135,551 shares of the pipeline company's stock, valued at approximately $6,260,000. Pembina Pipeline accounts for 0.9% of K.J. Harrison & Partners Inc's portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Pembina Pipeline in the first quarter valued at approximately $374,000. Focus Partners Wealth purchased a new position in Pembina Pipeline in the 1st quarter valued at $312,000. Marshall Wace LLP purchased a new position in shares of Pembina Pipeline in the second quarter worth about $253,000. Cresset Asset Management LLC lifted its stake in Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company's stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. lifted its position in Pembina Pipeline by 17.5% during the second quarter. AXA S.A. now owns 23,418 shares of the pipeline company's stock worth $878,000 after buying an additional 3,488 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Shares of PBA opened at $48.69 on Tuesday. The stock has a market capitalization of $28.31 billion, a P/E ratio of 23.87 and a beta of 0.57. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The company's fifty day moving average is $48.39 and its two-hundred day moving average is $46.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

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 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. On average, sell-side analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is presently 104.41%.

Wall Street Analyst Weigh In

PBA has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Thursday, May 21st. TD Securities restated a "buy" rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Pembina Pipeline 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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