K.J. Harrison & Partners Inc Increases Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• K.J. Harrison & Partners Inc. boosted its Pembina Pipeline stake by 27.3% in Q4 to 207,560 shares valued at $7.92 million, making PBA its 20th largest holding (1.1% of assets).
• Analysts' consensus is a Hold with an average price target of $60, though individual ratings range from Sell to Buy and JPMorgan recently raised its target to $60.
• Pembina offers a 6.3% dividend yield ($2.84 annualized) but has a high payout ratio of 109%; the latest quarter showed an EPS beat ($0.56) while revenue fell about 10.8% year‑over‑year.

K.J. Harrison & Partners Inc boosted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 27.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,560 shares of the pipeline company's stock after buying an additional 44,500 shares during the period. Pembina Pipeline makes up 1.1% of K.J. Harrison & Partners Inc's holdings, making the stock its 20th largest position. K.J. Harrison & Partners Inc's holdings in Pembina Pipeline were worth $7,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBA. Larson Financial Group LLC raised 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 valued at $43,000 after purchasing an additional 259 shares during the last quarter. PFG Investments LLC increased its stake in Pembina Pipeline by 2.5% during the 3rd quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company's stock valued at $526,000 after purchasing an additional 313 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Pembina Pipeline by 0.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company's stock valued at $2,278,000 after purchasing an additional 335 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 1.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,014 shares of the pipeline company's stock worth $800,000 after buying an additional 386 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings 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 buying an additional 404 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PBA. Wall Street Zen cut Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings raised Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Zacks Research raised shares of Pembina Pipeline from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $60.00.

Pembina Pipeline Stock Down 3.1%

PBA stock opened at $44.85 on Thursday. The stock has a market capitalization of $26.07 billion, a P/E ratio of 23.61 and a beta of 0.58. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $46.73. The firm has a 50-day simple moving average of $44.37 and a 200-day simple moving average of $41.02. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business earned $0.92 EPS. Pembina Pipeline's quarterly revenue was down 10.8% on a year-over-year basis. Equities analysts forecast that Pembina Pipeline Corp. will post 2.18 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Monday, March 16th. Pembina Pipeline's dividend payout ratio is 109.47%.

Pembina Pipeline Company 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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