Pembina Pipeline Co. (NYSE:PBA) Stake Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 1,591.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,155,558 shares of the pipeline company's stock after purchasing an additional 2,968,994 shares during the period. Pembina Pipeline accounts for about 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's investment portfolio, making the stock its 22nd biggest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.54% of Pembina Pipeline worth $116,440,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock valued at $919,503,000 after buying an additional 770,729 shares during the period. Deutsche Bank AG grew its position in Pembina Pipeline by 3.0% in the 4th quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company's stock worth $526,451,000 after purchasing an additional 413,373 shares during the last quarter. TD Asset Management Inc. boosted its stake in Pembina Pipeline by 5.4% during the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock worth $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Pembina Pipeline by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock valued at $230,610,000 after acquiring an additional 32,519 shares during the period. Finally, Scotia Capital Inc. raised its holdings in shares of Pembina Pipeline by 1.7% in the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company's stock worth $183,596,000 after buying an additional 85,121 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Price Performance

PBA stock opened at $37.54 on Wednesday. The company has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $38.22. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 15.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1 year low of $34.13 and a 1 year high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its earnings results on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm's revenue for the quarter was up 48.2% compared to the same quarter last year. Research analysts anticipate that Pembina Pipeline Co. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.5109 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Monday, June 16th. Pembina Pipeline's dividend payout ratio is presently 89.14%.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.

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