Hillsdale Investment Management Inc. Increases Stock Position in Pembina Pipeline Corp. $PBA

Key Points

• Hillsdale Investment Management increased its Pembina Pipeline stake by 187.4% in the fourth quarter, buying 597,971 additional shares and bringing its total to 917,125 shares worth about $35 million.
• Pembina Pipeline has seen broader institutional interest and a wave of analyst support, including upgrades from RBC and TD Securities. The stock now carries a consensus rating of Moderate Buy with a $62.67 average price target.
• The company recently reported better-than-expected quarterly earnings of $0.59 per share and raised its quarterly dividend to $0.735 per share, implying an annualized yield of 6.3%.

Hillsdale Investment Management Inc. lifted its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 187.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 917,125 shares of the pipeline company's stock after buying an additional 597,971 shares during the quarter. Pembina Pipeline makes up about 1.0% of Hillsdale Investment Management Inc.'s holdings, making the stock its 24th biggest holding. Hillsdale Investment Management Inc. owned 0.16% of Pembina Pipeline worth $35,002,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Pembina Pipeline during the third quarter worth about $31,000. Westside Investment Management Inc. increased its stake in shares of Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 750 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Pembina Pipeline during the third quarter valued at approximately $40,000. Finally, Larson Financial Group LLC boosted its position in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock worth $43,000 after purchasing an additional 259 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PBA has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings raised Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Tuesday. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, TD Securities upgraded shares of Pembina Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.67.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $46.58 on Friday. The business has a 50-day simple moving average of $45.58 and a two-hundred day simple moving average of $42.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. The firm has a market cap of $27.08 billion, a price-to-earnings ratio of 24.26 and a beta of 0.58. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The business's revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts expect that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.3%. Pembina Pipeline's payout ratio is presently 108.33%.

Pembina Pipeline 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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