Ontario Teachers Pension Plan Board Invests $105.98 Million in Pembina Pipeline Corp. $PBA

Key Points

• Ontario Teachers’ Pension Plan Board acquired 2.29 million Pembina Pipeline shares worth approximately $105.98 million, representing 0.39% of the company and 0.7% of the fund’s holdings.
• Pembina reported quarterly EPS of $0.48, slightly below the $0.49 consensus, while revenue rose 20.1% year over year to $1.07 billion but missed estimates.
• The company declared a quarterly dividend of $0.735 per share, implying an annualized yield of about 6.0%; analysts maintain a “Moderate Buy” consensus with a $64 target price.

Ontario Teachers Pension Plan Board bought a new stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,292,937 shares of the pipeline company's stock, valued at approximately $105,984,000. Pembina Pipeline comprises 0.7% of Ontario Teachers Pension Plan Board's holdings, making the stock its 22nd largest holding. Ontario Teachers Pension Plan Board owned 0.39% of Pembina Pipeline as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. K.J. Harrison & Partners Inc acquired a new position in Pembina Pipeline during the second quarter worth about $6,260,000. BlackRock Inc. acquired a new stake in Pembina Pipeline in the 2nd quarter valued at about $43,925,000. Dunhill Financial LLC purchased a new position in Pembina Pipeline in the 2nd quarter worth approximately $31,000. Deutsche Bank AG purchased a new position in Pembina Pipeline in the 2nd quarter worth approximately $262,233,000. Finally, Baxter Bros Inc. acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $610,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $49.35 on Wednesday. The firm has a 50 day simple moving average of $48.41 and a 200-day simple moving average of $46.25. The stock has a market cap of $28.70 billion, a price-to-earnings ratio of 24.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. 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 released its quarterly earnings data 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 business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company's revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. Pembina Pipeline's dividend payout ratio is currently 102.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PBA shares. Weiss Ratings upgraded Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Scotiabank downgraded Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, July 20th. Wall Street Zen raised Pembina Pipeline from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. TD Securities restated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Pembina Pipeline in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source