Corient Private Wealth LP Makes New Investment in Pembina Pipeline Corp. $PBA

Key Points

• Corient Private Wealth LP purchased 38,239 Pembina Pipeline shares worth approximately $1.77 million during the second quarter. Institutional investors now own 55.37% of the company.
• Analysts maintain a generally positive view, with five Buy ratings and four Holds, resulting in a “Moderate Buy” consensus and an average price target of $64.
• Pembina reported quarterly EPS of $0.48, slightly below the $0.49 estimate, while revenue reached $1.07 billion. The company announced a quarterly dividend of $0.735, representing a 6.0% annualized yield.

Corient Private Wealth LP purchased a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,239 shares of the pipeline company's stock, valued at approximately $1,774,000.

Several other large investors have also made changes to their positions in PBA. Western Wealth Management LLC purchased a new stake in shares of Pembina Pipeline during the first quarter worth about $25,000. Dunhill Financial LLC purchased a new position in Pembina Pipeline in the 2nd quarter worth approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in Pembina Pipeline in the 2nd quarter worth approximately $31,000. Tobam bought a new position in Pembina Pipeline in the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Pembina Pipeline in the 3rd quarter worth approximately $31,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. Royal Bank Of Canada increased their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. Wall Street Zen upgraded shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Scotiabank cut shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Five investment 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.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and an average price target of $64.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $48.64 on Friday. The firm has a market cap of $28.29 billion, a PE ratio of 23.84 and a beta of 0.58. The stock has a 50 day moving average of $48.75 and a 200 day moving average of $46.75. 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 Corp. has a 12 month low of $36.20 and a 12 month high of $51.58.

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 firm had revenue of $1.07 billion during 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%.The business's revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. On average, research analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. The ex-dividend date of this dividend 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 104.41%.

Pembina Pipeline Company Profile

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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