27,009 Shares in Pembina Pipeline Corp. $PBA Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC initiated a position in Pembina Pipeline by purchasing 27,009 shares worth approximately $1.25 million. Institutional investors collectively own 55.37% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $64.
• Pembina declared a quarterly dividend of $0.735 per share, equivalent to a $2.94 annualized payout and a 6.1% yield. Its latest quarter slightly missed earnings and revenue expectations.

Empowered Funds LLC bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,009 shares of the pipeline company's stock, valued at approximately $1,249,000.

A number of other hedge funds have also made changes to their positions in the company. Western Wealth Management LLC purchased a new position in shares of Pembina Pipeline during the 1st quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Pembina Pipeline during the second quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline during the second quarter valued at $31,000. Tobam purchased a new stake in Pembina Pipeline during the 4th quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. BMO Capital Markets restated a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Scotiabank downgraded Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Finally, Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $48.42 on Friday. The stock has a market capitalization of $28.16 billion, a price-to-earnings ratio of 23.74 and a beta of 0.58. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The company's 50-day simple moving average is $48.77 and its 200-day simple moving average is $46.77. 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 announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate 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 firm earned $0.65 earnings per share. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 annualized dividend and a yield of 6.1%. Pembina Pipeline's dividend payout ratio (DPR) is 104.41%.

About Pembina Pipeline

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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