Oppenheimer Asset Management Inc. Invests $980,000 in Pembina Pipeline Corp. $PBA

Key Points

• Oppenheimer Asset Management purchased 21,186 Pembina Pipeline shares worth approximately $980,000 during the second quarter. Institutional investors collectively own 55.37% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $64, compared with the stock’s recent price of $49.29.
• Pembina reported quarterly EPS of $0.48, slightly below expectations, while revenue rose 20.1% year over year to $1.07 billion. The company also declared a quarterly dividend of $0.735 per share, representing a 6.0% annualized yield.

Oppenheimer Asset Management Inc. bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,186 shares of the pipeline company's stock, valued at approximately $980,000.

Several other institutional investors also recently bought and sold shares of PBA. Western Wealth Management LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at $25,000. Tobam purchased a new position in Pembina Pipeline in the fourth quarter valued at $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Pembina Pipeline in the third quarter valued at $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Pembina Pipeline in the fourth quarter worth about $36,000. Finally, Larson Financial Group LLC raised its position in shares of Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock worth $43,000 after acquiring an additional 259 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PBA has been the topic of a number of analyst reports. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Scotiabank lowered Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Pembina Pipeline Stock Performance

PBA opened at $49.29 on Monday. The firm's fifty day simple moving average is $48.38 and its two-hundred day simple moving average is $46.14. Pembina Pipeline Corp. has a 52-week low of $36.20 and a 52-week high of $51.58. The company has a market cap of $28.66 billion, a price-to-earnings ratio of 24.16 and a beta of 0.57. 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 (NYSE:PBA - Get Free Report) TSE: PPL last released its 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). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the firm earned $0.65 EPS. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline's payout ratio is 104.41%.

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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