Alberta Investment Management Corp 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 filing with the Securities & Exchange Commission. The institutional investor purchased 157,370 shares of the pipeline company's stock, valued at approximately $7,274,000.
Several other large investors also recently made changes to their positions in PBA. Western Wealth Management LLC bought a new position in shares of Pembina Pipeline during the 1st quarter worth approximately $25,000. Tobam acquired a new stake in Pembina Pipeline in the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline in the 3rd quarter valued at $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Pembina Pipeline during the 4th quarter worth about $36,000. Finally, Larson Financial Group LLC grew its holdings in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock valued at $43,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 55.37% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on PBA shares. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Scotiabank downgraded Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Wall Street Zen raised shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Royal Bank Of Canada increased their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.00.
Check Out Our Latest Research Report on Pembina Pipeline
Pembina Pipeline Trading Down 0.1%
PBA stock opened at $49.29 on Monday. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The stock has a market cap of $28.66 billion, a price-to-earnings ratio of 24.16 and a beta of 0.57. The company has a fifty day moving average price of $48.38 and a two-hundred day moving average price of $46.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50.
Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued 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 company 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%. Pembina Pipeline's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous 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 business 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. This represents a $2.94 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline's dividend payout ratio is currently 104.41%.
About Pembina Pipeline
(
Free Report)
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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