Louisbourg Investments Inc. Raises Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Louisbourg Investments increased its stake in Pembina Pipeline by 25.8%, buying an additional 46,615 shares to hold 227,338 shares worth about $8.67M, roughly 1.6% of its portfolio and its 14th-largest holding.
• Analysts collectively have a consensus rating of “Hold” with a $60 price target; recent moves include JPMorgan raising its target to $60 (neutral) and Weiss upgrading the stock to a buy.
• Pembina paid a quarterly dividend of $0.71 (annualized $2.84) for a ~6.4% yield but a high payout ratio (~109%), and reported quarterly EPS of $0.56 (beat) while revenue of $1.02B missed estimates and fell 10.8% year-over-year.

Louisbourg Investments Inc. raised its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 25.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 227,338 shares of the pipeline company's stock after purchasing an additional 46,615 shares during the period. Pembina Pipeline accounts for approximately 1.6% of Louisbourg Investments Inc.'s portfolio, making the stock its 14th biggest holding. Louisbourg Investments Inc.'s holdings in Pembina Pipeline were worth $8,673,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PBA. Larson Financial Group LLC raised its position in shares of Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock valued at $43,000 after buying an additional 259 shares during the last quarter. PFG Investments LLC boosted its position in Pembina Pipeline by 2.5% during the third quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company's stock worth $526,000 after acquiring an additional 313 shares during the last quarter. Public Sector Pension Investment Board grew 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 acquiring an additional 335 shares in the last quarter. M&T Bank Corp raised its holdings in Pembina Pipeline by 0.3% in the 2nd quarter. M&T Bank Corp now owns 110,885 shares of the pipeline company's stock valued at $4,159,000 after acquiring an additional 351 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PBA. JPMorgan Chase & Co. boosted their target price on Pembina Pipeline from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, March 19th. TD Securities cut Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings raised Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Finally, Zacks Research upgraded Pembina Pipeline from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $60.00.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $44.59 on Friday. The company's 50-day moving average is $43.75 and its two-hundred day moving average is $40.37. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $46.19. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 23.47 and a beta of 0.62.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.41 billion. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The business's revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. Analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.4%. Pembina Pipeline's dividend payout ratio (DPR) is 109.47%.

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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