Korea Investment CORP Takes $6.86 Million Position in Pembina Pipeline Corp. $PBA

Key Points

• Korea Investment CORP acquired 148,255 shares of Pembina Pipeline during the second quarter, establishing a position worth approximately $6.86 million. Institutional investors collectively own 55.37% of the company.
• Analysts maintain a generally positive view of Pembina Pipeline, with five Buy ratings and four Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $64.
• Pembina reported quarterly EPS of $0.48, slightly below estimates, while revenue rose 20.1% year over year to $1.07 billion. The company also declared a quarterly dividend of $0.735, representing a 6.0% annualized yield.

Korea Investment CORP acquired a new position 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 and Exchange Commission (SEC). The fund acquired 148,255 shares of the pipeline company's stock, valued at approximately $6,857,000.

Other large investors also recently made changes to their positions in the company. Western Wealth Management LLC acquired a new position in shares of Pembina Pipeline during the first quarter valued at $25,000. Tobam bought a new stake in Pembina Pipeline during the 4th quarter worth about $28,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline during the 2nd quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new position in Pembina Pipeline during the 2nd quarter valued at about $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $31,000. Institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. BMO Capital Markets restated a "market perform" rating on shares of Pembina Pipeline in a report on Friday, July 31st. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. TD Securities restated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Wall Street Zen raised shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Scotiabank lowered shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and an average price target of $64.00.

Pembina Pipeline Stock Down 0.0%

Shares of PBA stock opened at $48.71 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The firm's fifty day moving average price is $48.45 and its two-hundred day moving average price is $46.45. The firm has a market capitalization of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $0.65 EPS. The business's revenue was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.735 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 annualized dividend and a yield of 6.0%. Pembina Pipeline's payout ratio is 102.45%.

About Pembina Pipeline

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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