NEOS Investment Management LLC Has $30.21 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• NEOS Investment Management increased its Pembina Pipeline holdings by 7.4% in the second quarter, owning 653,163 shares valued at approximately $30.21 million. Institutional investors collectively hold 55.37% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Hold ratings, producing a consensus “Moderate Buy” rating and a $64 price target.
• Pembina reported quarterly revenue of $1.07 billion and EPS of $0.48, slightly below expectations, while announcing a $0.735 quarterly dividend, equivalent to a 6.1% annual yield.

NEOS Investment Management LLC grew its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 7.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 653,163 shares of the pipeline company's stock after purchasing an additional 45,253 shares during the period. NEOS Investment Management LLC owned approximately 0.11% of Pembina Pipeline worth $30,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FIL Ltd lifted its holdings in shares of Pembina Pipeline by 2.6% in the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company's stock worth $532,541,000 after acquiring an additional 359,109 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Pembina Pipeline by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company's stock valued at $375,236,000 after purchasing an additional 94,655 shares during the last quarter. CIBC Asset Management Inc increased its position in Pembina Pipeline by 17.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company's stock worth $329,245,000 after purchasing an additional 1,304,227 shares in the last quarter. Scotia Capital Inc. lifted its stake in Pembina Pipeline by 12.6% in the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company's stock valued at $258,724,000 after purchasing an additional 717,773 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Pembina Pipeline in the 2nd quarter valued at approximately $285,738,000. Institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Scotiabank downgraded Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. TD Securities reaffirmed a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $64.00.

Pembina Pipeline Stock Down 0.4%

Shares of NYSE:PBA opened at $48.42 on Friday. The firm has a market cap of $28.16 billion, a P/E ratio of 23.74 and a beta of 0.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58. The business has a fifty day simple moving average of $48.77 and a 200 day simple moving average of $46.77.

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

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline's payout ratio is currently 104.41%.

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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