Pembina Pipeline Co. (NYSE:PBA) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,930,847 shares of the pipeline company's stock after acquiring an additional 1,331,294 shares during the quarter. Mackenzie Financial Corp owned about 2.40% of Pembina Pipeline worth $514,154,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PBA. Sound Income Strategies LLC purchased a new position in Pembina Pipeline in the fourth quarter valued at about $27,000. Principal Securities Inc. boosted its holdings in shares of Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock valued at $34,000 after buying an additional 883 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Pembina Pipeline by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock valued at $36,000 after buying an additional 880 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter worth approximately $37,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Pembina Pipeline in the 4th quarter worth approximately $40,000. 55.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Performance

NYSE PBA traded up $0.17 during trading hours on Tuesday, reaching $37.71. The stock had a trading volume of 2,539,608 shares, compared to its average volume of 1,267,330. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44. The stock has a fifty day moving average of $38.12 and a 200 day moving average of $38.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a market cap of $21.90 billion, a P/E ratio of 15.58 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.57 by $0.23. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a net margin of 25.39% and a return on equity of 13.62%. The business's revenue for the quarter was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. Sell-side analysts predict that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.5109 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's payout ratio is 89.14%.

Pembina Pipeline Company Profile

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.