51,774 Shares in Pembina Pipeline Corp. $PBA Bought by Tacita Capital Inc

Key Points

• Tacita Capital acquired 51,774 Pembina Pipeline shares in the second quarter, valued at approximately $2.39 million and representing 1.3% of its portfolio. Institutional investors collectively own 55.37% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $64 price target; five analysts rate the stock Buy and four rate it Hold.
• Pembina declared a quarterly dividend of $0.735 per share, or $2.94 annually, representing a 6.1% yield. Its latest quarterly earnings slightly missed estimates, while revenue rose 20.1% year over year.

Tacita Capital Inc purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,774 shares of the pipeline company's stock, valued at approximately $2,391,000. Pembina Pipeline accounts for about 1.3% of Tacita Capital Inc's holdings, making the stock its 18th largest position.

A number of other hedge funds also recently made changes to their positions in PBA. Vanguard Group Inc. boosted its holdings in Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company's stock valued at $1,037,512,000 after acquiring an additional 541,615 shares during the last quarter. FIL Ltd boosted its stake in shares of Pembina Pipeline by 2.6% in the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company's stock valued at $532,541,000 after purchasing an additional 359,109 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Pembina Pipeline by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company's stock valued at $375,236,000 after purchasing an additional 94,655 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company's stock worth $329,245,000 after buying an additional 1,304,227 shares during the period. Finally, Scotia Capital Inc. increased its position in shares of Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company's stock worth $258,724,000 after buying an additional 717,773 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PBA shares. TD Securities restated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Scotiabank lowered Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Royal Bank Of Canada boosted their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $48.55 on Thursday. The firm's 50-day moving average price is $48.41 and its 200-day moving average price is $46.30. Pembina Pipeline Corp. has a 1-year low of $36.20 and a 1-year high of $51.58. The firm has a market capitalization of $28.23 billion, a P/E ratio of 23.80 and a beta of 0.57. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.Pembina Pipeline's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. Equities research analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 annualized dividend and a yield of 6.1%. Pembina Pipeline's dividend payout ratio is presently 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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