Federated Hermes Inc. Acquires 8,890 Shares of Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Federated Hermes Inc. increased its stake in Pembina Pipeline Corp. by purchasing an additional 8,890 shares, raising its total holdings to 258,982 shares valued at approximately $10.37 million.
• Pembina Pipeline declared a quarterly dividend of $0.5109 per share, an increase from the previous $0.48, representing an annual yield of 5.5%.
• Analysts have given Pembina Pipeline a consensus rating of "Moderate Buy" with an average target price of $56.00, amidst recent upgrades and downgrades from various brokerages.

Federated Hermes Inc. lifted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 258,982 shares of the pipeline company's stock after purchasing an additional 8,890 shares during the period. Federated Hermes Inc.'s holdings in Pembina Pipeline were worth $10,367,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new stake in Pembina Pipeline in the 1st quarter worth $27,000. Sheaff Brock Investment Advisors LLC grew its holdings in Pembina Pipeline by 6.0% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 8,806 shares of the pipeline company's stock worth $353,000 after acquiring an additional 500 shares during the last quarter. LPL Financial LLC grew its holdings in Pembina Pipeline by 4.4% in the 1st quarter. LPL Financial LLC now owns 85,312 shares of the pipeline company's stock worth $3,415,000 after acquiring an additional 3,558 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pembina Pipeline by 2.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,143 shares of the pipeline company's stock worth $5,765,000 after acquiring an additional 3,700 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Pembina Pipeline by 2.4% in the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company's stock worth $277,985,000 after acquiring an additional 161,114 shares during the last quarter. Institutional investors own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PBA. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Barclays reissued 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 research note on Wednesday, June 25th. Finally, National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Stock Performance

Shares of PBA opened at $37.19 on Friday. The firm's 50-day moving average price is $37.27 and its 200-day moving average price is $37.55. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 16.83 and a beta of 0.78. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period last year, the company posted $0.73 EPS. Pembina Pipeline's revenue was up 48.2% on a year-over-year basis. Sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.5109 per share. This is an increase 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 5.5%. Pembina Pipeline's dividend payout ratio is 93.67%.

Pembina Pipeline Company Profile

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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