Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 169,756 Pembina Pipeline Corp. $PBA

Key Points

• Connor Clark & Lunn Investment Management acquired 169,756 shares of Pembina Pipeline, valued at approximately $7.85 million. Institutional investors and hedge funds own 55.37% of the company.
• Pembina Pipeline reported quarterly EPS of $0.48, slightly below the $0.49 consensus estimate, while revenue rose 20.1% year over year to $1.07 billion but fell short of expectations.
• The company declared a quarterly dividend of $0.735 per share, or $2.94 annually, representing a 6.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $64.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 169,756 shares of the pipeline company's stock, valued at approximately $7,847,000.

A number of other hedge funds have also modified their holdings of the business. Western Wealth Management LLC purchased a new stake in Pembina Pipeline during the 1st quarter valued at about $25,000. Tobam acquired a new position in shares of Pembina Pipeline during the 4th quarter worth approximately $28,000. Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline in the second quarter valued at approximately $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline in the second quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Pembina Pipeline during the third quarter worth approximately $31,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

NYSE PBA opened at $48.61 on Thursday. The stock has a fifty day simple moving average of $48.51 and a 200-day simple moving average of $46.54. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The stock has a market cap of $28.27 billion, a PE ratio of 23.83 and a beta of 0.57. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58.

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 (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm's quarterly revenue was up 20.1% on a year-over-year basis. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

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 given a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. Pembina Pipeline's dividend payout ratio (DPR) is currently 104.41%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBA. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Scotiabank downgraded shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a report on Thursday, May 21st. 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. Finally, Weiss Ratings downgraded shares of Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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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