Pembina Pipeline Corp. (NYSE:PBA) is Intact Investment Management Inc.'s 5th Largest Position

Intact Investment Management Inc. raised its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,944,474 shares of the pipeline company's stock after buying an additional 223,100 shares during the period. Pembina Pipeline comprises about 2.7% of Intact Investment Management Inc.'s investment portfolio, making the stock its 5th biggest position. Intact Investment Management Inc. owned 0.33% of Pembina Pipeline worth $77,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Pembina Pipeline during the fourth quarter valued at about $171,860,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted 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 valued at $116,440,000 after buying an additional 2,968,994 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Pembina Pipeline in the fourth quarter worth about $73,073,000. Mackenzie Financial Corp boosted its position in shares of Pembina Pipeline by 10.6% in the 4th 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 in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Pembina Pipeline by 338.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock worth $47,598,000 after acquiring an additional 995,735 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PBA. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Up 0.3%

Shares of NYSE PBA traded up $0.11 during trading hours on Tuesday, hitting $36.96. 1,434,831 shares of the stock were exchanged, compared to its average volume of 1,285,167. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a market cap of $21.47 billion, a PE ratio of 16.72 and a beta of 0.76. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average price of $37.82 and a 200-day moving average price of $37.55.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its 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 the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm'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 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.5109 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.53%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date is Monday, June 16th. Pembina Pipeline's payout ratio 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.