Forge First Asset Management Inc. Makes New $3.85 Million Investment in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Forge First Asset Management Inc. has made a new investment of $3.85 million in Pembina Pipeline Corp., acquiring 96,200 shares, which constitutes 1.7% of its total portfolio.
• Pembina Pipeline recently paid an increased quarterly dividend of $0.5109 per share, resulting in an annualized yield of 5.5%.
• Analysts have varied ratings on Pembina Pipeline, with the stock having a consensus rating of "Moderate Buy" and an average target price set at $56.00.

Forge First Asset Management Inc. purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,200 shares of the pipeline company's stock, valued at approximately $3,854,000. Pembina Pipeline comprises 1.7% of Forge First Asset Management Inc.'s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors have also recently bought and sold shares of PBA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Pembina Pipeline by 1,591.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after buying an additional 2,968,994 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares during the period. Geode Capital Management LLC lifted its holdings in Pembina Pipeline by 30.4% during the 4th quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after purchasing an additional 824,232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Pembina Pipeline by 21.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company's stock worth $96,665,000 after purchasing an additional 460,646 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Pembina Pipeline by 28.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,943,874 shares of the pipeline company's stock worth $71,784,000 after purchasing an additional 435,763 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Analysts Set New Price Targets

PBA has been the subject of several research reports. Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Finally, National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $37.19 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75. The stock has a market cap of $21.60 billion, a P/E ratio of 16.83 and a beta of 0.78. The stock has a 50 day simple moving average of $37.27 and a 200 day simple moving average of $37.54. 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 the consensus estimate of $0.57 by $0.23. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.47 billion. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The firm's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. On average, research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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. This represents a $2.04 annualized dividend and a yield of 5.5%. The ex-dividend date was Monday, June 16th. Pembina Pipeline's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.