Miller Howard Investments Inc. NY Grows Stake in Pembina Pipeline Corp. $PBA

Key Points

• Miller Howard Investments Inc. NY increased its stake in Pembina Pipeline by 8.7% in the first quarter, buying 45,567 additional shares and bringing its total to 567,713 shares worth about $25.4 million.
• Other major institutional investors also added to their positions, and hedge funds and institutions now own 55.37% of Pembina Pipeline’s stock.
• Pembina Pipeline recently raised its quarterly dividend to $0.735 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $62.67.

Miller Howard Investments Inc. NY boosted its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 567,713 shares of the pipeline company's stock after acquiring an additional 45,567 shares during the quarter. Miller Howard Investments Inc. NY owned 0.10% of Pembina Pipeline worth $25,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PBA. Vanguard Group Inc. lifted its holdings in shares of Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company's stock worth $1,037,512,000 after acquiring an additional 541,615 shares during the last quarter. FIL Ltd increased its stake in Pembina Pipeline by 2.6% in the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company's stock valued at $532,541,000 after acquiring an additional 359,109 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Pembina Pipeline by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company's stock valued at $375,236,000 after acquiring an additional 94,655 shares during the last quarter. CIBC Asset Management Inc raised its position in Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company's stock valued at $329,245,000 after purchasing an additional 1,304,227 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Pembina Pipeline by 3.9% during the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company's stock valued at $306,634,000 after purchasing an additional 283,513 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. TD Securities raised Pembina Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 26th. BMO Capital Markets restated a "market perform" rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on Pembina Pipeline from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Pembina Pipeline in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.67.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $47.15 on Wednesday. The firm has a fifty day simple moving average of $46.57 and a two-hundred day simple moving average of $43.36. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10. The company has a market capitalization of $27.41 billion, a PE ratio of 24.56 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company's quarterly revenue was down 7.7% on a year-over-year basis. Research analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.735 dividend. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.2%. Pembina Pipeline's payout ratio is presently 110.94%.

Pembina Pipeline Company 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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