Glenview Trust Co bought a new stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,750 shares of the pipeline company's stock, valued at approximately $1,283,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Western Wealth Management LLC purchased a new stake in shares of Pembina Pipeline during the 1st quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline in the second quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline during the second quarter worth about $31,000. Tobam acquired a new stake in shares of Pembina Pipeline during the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Pembina Pipeline in the 3rd quarter valued at about $31,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PBA has been the subject of several analyst reports. TD Securities reaffirmed a "buy" rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their target price on Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Wall Street Zen upgraded shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.00.
Get Our Latest Stock Analysis on Pembina Pipeline
Pembina Pipeline Trading Down 0.8%
Shares of Pembina Pipeline stock opened at $47.99 on Friday. The stock has a market cap of $27.91 billion, a PE ratio of 23.52 and a beta of 0.57. 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 company has a 50-day moving average of $48.59 and a two-hundred day moving average of $46.59. 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 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 return on equity of 11.41% and a net margin of 22.41%.The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The business's revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts anticipate that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.
Pembina Pipeline Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline's payout ratio is currently 104.41%.
Pembina Pipeline Profile
(
Free Report)
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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