Davis Rea LTD. Takes Position in Pembina Pipeline Corp. (NYSE:PBA)

Davis Rea LTD. acquired a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 110,749 shares of the pipeline company's stock, valued at approximately $4,432,000.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Pembina Pipeline by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock valued at $728,000 after purchasing an additional 1,824 shares during the last quarter. Bank of Nova Scotia Trust Co. boosted its holdings in shares of Pembina Pipeline by 20.9% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock valued at $12,466,000 after acquiring an additional 58,366 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Pembina Pipeline by 18.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock valued at $17,816,000 after acquiring an additional 67,797 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Pembina Pipeline by 32.7% during the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock valued at $16,279,000 after acquiring an additional 108,529 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $459,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PBA. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Finally, National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded down $0.36 during trading on Friday, hitting $36.73. The company's stock had a trading volume of 1,493,734 shares, compared to its average volume of 988,299. The company has a 50-day moving average of $37.31 and a 200-day moving average of $37.53. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. 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 firm has a market cap of $21.34 billion, a price-to-earnings ratio of 16.62 and a beta of 0.76.

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

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.5109 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a yield of 5.56%. Pembina Pipeline's dividend payout ratio (DPR) is presently 93.67%.

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.