Canada Pension Plan Investment Board Takes Position in Pembina Pipeline Corp. $PBA

Key Points

• Canada Pension Plan Investment Board purchased 5.73 million Pembina Pipeline shares worth approximately $264.9 million, gaining a 0.99% stake. Institutional investors collectively own 55.37% of the company.
• Pembina reported quarterly EPS of $0.48, slightly below the $0.49 consensus estimate, while revenue reached $1.07 billion and increased 20.1% year over year.
• The company declared a quarterly dividend of $0.735 per share, representing a 6.1% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64, compared with the reported share price of $48.14.

Canada Pension Plan Investment Board purchased a new position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,731,205 shares of the pipeline company's stock, valued at approximately $264,907,000. Canada Pension Plan Investment Board owned 0.99% of Pembina Pipeline as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Pembina Pipeline by 2.0% in the 4th 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 grew its stake in Pembina Pipeline by 2.6% in the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company's stock worth $532,541,000 after acquiring an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 worth $375,236,000 after acquiring an additional 94,655 shares in 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 acquiring an additional 1,304,227 shares during the period. Finally, Scotia Capital Inc. raised its stake 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 valued at $258,724,000 after acquiring an additional 717,773 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Price Performance

Shares of PBA opened at $48.14 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company's fifty day moving average price is $48.47 and its 200-day moving average price is $46.49. 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 $27.99 billion, a PE ratio of 23.60 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its quarterly earnings results 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 business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. On average, equities research analysts predict that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline's dividend payout ratio is presently 104.41%.

Wall Street Analysts Forecast Growth

PBA has been the topic of a number of recent research reports. Scotiabank downgraded shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Pembina Pipeline in a report on Friday, July 3rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, July 31st. TD Securities reiterated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Weiss Ratings lowered Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.00.

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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