Bank of Nova Scotia Trust Co. Increases Stock Position in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Bank of Nova Scotia Trust Co. increased its stake in Pembina Pipeline by 7.2%, owning a total of 361,727 shares valued at approximately $14.48 million, making Pembina Pipeline its 24th largest holding.
• Pembina Pipeline recently declared a quarterly dividend of $0.5109 per share, up from $0.48, resulting in an annualized dividend of $2.04 and a yield of 5.5%.
• The company's latest earnings report showed an EPS of $0.80, beating estimates and reflecting a 48.2% year-over-year revenue increase despite quarterly revenue falling short of expectations.

Bank of Nova Scotia Trust Co. lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 361,727 shares of the pipeline company's stock after buying an additional 24,348 shares during the period. Pembina Pipeline makes up about 1.5% of Bank of Nova Scotia Trust Co.'s holdings, making the stock its 24th biggest holding. Bank of Nova Scotia Trust Co. owned 0.06% of Pembina Pipeline worth $14,480,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after acquiring an additional 277 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline during the 1st quarter worth $27,000. Dunhill Financial LLC increased its holdings in Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 675 shares in the last quarter. Larson Financial Group LLC raised its position in Pembina Pipeline by 53.4% in the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after purchasing an additional 467 shares during the period. Finally, Versant Capital Management Inc raised its position in Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 793 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $37.19 on Friday. The firm has a 50-day moving average of $37.27 and a two-hundred day moving average of $37.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.64 and a quick ratio of 0.52. The stock has a market cap of $21.60 billion, a P/E ratio of 16.83 and a beta of 0.78. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. Pembina Pipeline's revenue for the quarter was up 48.2% on a year-over-year basis. On average, research analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.5109 per share. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.5%. Pembina Pipeline's dividend payout ratio is 93.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

About Pembina Pipeline

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.

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