Midwest Professional Planners LTD. Has $2.25 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Midwest Professional Planners LTD. more than doubled its Pembina Pipeline stake in the second quarter, adding 24,611 shares for a total holding worth approximately $2.25 million. Institutional investors collectively own 55.37% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds, resulting in a consensus “Moderate Buy” rating and a $64 price target. Royal Bank of Canada recently raised its target to $68 and rated the stock “Outperform.”
• Pembina declared a quarterly dividend of $0.735 per share, or $2.94 annually, representing a 6.0% yield. However, its latest results slightly missed earnings expectations, with $0.48 in EPS versus $0.49 expected, while revenue rose 20.1% year over year.

Midwest Professional Planners LTD. increased its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 102.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,619 shares of the pipeline company's stock after acquiring an additional 24,611 shares during the period. Midwest Professional Planners LTD.'s holdings in Pembina Pipeline were worth $2,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new stake in shares of Pembina Pipeline in the 1st quarter valued at approximately $25,000. Tobam acquired a new stake in Pembina Pipeline in the 4th quarter valued at $28,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline during the second quarter worth $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Pembina Pipeline during the second quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the third quarter valued at $31,000. Institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PBA. Wall Street Zen raised shares of Pembina Pipeline from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a report on Friday, July 31st. Royal Bank Of Canada increased their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. TD Securities reiterated a "buy" rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Finally, Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Pembina Pipeline Stock Up 0.7%

Shares of NYSE PBA opened at $49.04 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $28.52 billion, a PE ratio of 24.04 and a beta of 0.58. The firm's 50-day moving average is $48.68 and its 200-day moving average is $46.69. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business's revenue was up 20.1% on a year-over-year basis. Equities analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is currently 104.41%.

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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