Twinbeech Capital LP purchased a new stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 48,969 shares of the pipeline company's stock, valued at approximately $1,809,000.
A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Pembina Pipeline during the fourth quarter valued at $171,860,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $73,073,000. Hillsdale Investment Management Inc. boosted its position in shares of Pembina Pipeline by 338.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after acquiring an additional 995,735 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Pembina Pipeline by 612.7% during the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock worth $40,025,000 after purchasing an additional 929,206 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Pembina Pipeline by 30.4% in the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after purchasing an additional 824,232 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.
Pembina Pipeline Trading Down 0.7%
Shares of PBA stock opened at $37.33 on Thursday. The business has a 50-day moving average price of $38.23 and a two-hundred day moving average price of $38.22. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm has a market cap of $21.68 billion, a P/E ratio of 15.42 and a beta of 0.81.
Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.47 billion. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. Pembina Pipeline's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period last year, the firm posted $0.73 EPS. Equities analysts anticipate that Pembina Pipeline Co. will post 2.15 EPS for the current fiscal year.
Pembina Pipeline Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.5109 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.47%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date is Monday, June 16th. Pembina Pipeline's payout ratio is presently 89.14%.
Wall Street Analyst Weigh In
Separately, Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and an average price target of $56.00.
View Our Latest Stock Analysis on Pembina Pipeline
Pembina Pipeline Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pembina Pipeline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pembina Pipeline wasn't on the list.
While Pembina Pipeline currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
