Miller Howard Investments Inc. NY Acquires 31,586 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Miller Howard Investments increased its Pembina Pipeline stake by 6.8% in the third quarter, adding 31,586 shares to hold 496,819 shares valued at approximately $22.1 million.
• Institutional investors and hedge funds own 55.37% of Pembina Pipeline, with several major institutions—including Manulife, Canada Pension Plan Investment Board, and Deutsche Bank—recently establishing sizable positions.
• Analyst sentiment is moderately positive, with five Buy and five Hold ratings and an average price target of $64.00. Pembina offers an approximately 5.8% dividend yield, though its latest quarterly earnings and revenue slightly missed expectations.

Miller Howard Investments Inc. NY grew its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 6.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 496,819 shares of the pipeline company's stock after purchasing an additional 31,586 shares during the period. Miller Howard Investments Inc. NY owned 0.09% of Pembina Pipeline worth $22,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $285,738,000. Canada Pension Plan Investment Board bought a new stake in shares of Pembina Pipeline during the 2nd quarter valued at about $264,907,000. Deutsche Bank AG acquired a new stake in Pembina Pipeline during the second quarter worth about $262,233,000. Legal & General Group Plc acquired a new stake in Pembina Pipeline during the second quarter worth about $199,230,000. Finally, Bank of Nova Scotia acquired a new stake in Pembina Pipeline during the second quarter worth about $174,133,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Scotiabank cut shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Weiss Ratings lowered Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Canadian Imperial Bank of Commerce cut Pembina Pipeline from an "outperform" rating to a "hold" rating in a research report on Thursday, October 22nd. TD Securities reiterated a "buy" rating on shares of Pembina Pipeline in a research report on Friday, October 16th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.00.

Pembina Pipeline Stock Down 0.0%

Shares of Pembina Pipeline stock opened at $50.32 on Tuesday. The business's fifty day moving average price is $47.83 and its two-hundred day moving average price is $46.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company has a market capitalization of $29.26 billion, a P/E ratio of 25.95 and a beta of 0.62. 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 announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $0.65 EPS. The company's revenue was up 20.1% compared to the same quarter last year. As a group, research analysts forecast that Pembina Pipeline Corp. will post 2.20 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a C$0.73 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, September 15th. Pembina Pipeline's dividend payout ratio is currently 103.92%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1954, the company owns and operates pipelines and related facilities that transport and process hydrocarbon products, primarily in Western Canada.

Pembina's operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and infrastructure for moving natural gas liquids such as propane, butane and ethane.

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