Pembina Pipeline Corp. $PBA Shares Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management boosted its Pembina Pipeline stake by 262.5% in the fourth quarter, ending with 46,752 shares valued at about $1.78 million.
• Pembina Pipeline reported quarterly EPS of $0.59, beating analyst estimates, while revenue came in at $1.11 billion. Analysts currently have a Moderate Buy consensus with a target price of $62.67.
• The company raised its quarterly dividend to $0.735 per share, or $2.94 annualized, implying a 6.2% yield. The stock was trading down 1.5% at $47.55 and remains below its 52-week high of $50.10.

Northwestern Mutual Wealth Management Co. lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 262.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,752 shares of the pipeline company's stock after acquiring an additional 33,854 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Pembina Pipeline were worth $1,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline in the third quarter worth $31,000. Westside Investment Management Inc. increased its position in Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company's stock worth $32,000 after buying an additional 404 shares during the period. Physician Wealth Advisors Inc. increased its position in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company's stock worth $37,000 after buying an additional 750 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Pembina Pipeline in the third quarter worth $40,000. Finally, Larson Financial Group LLC grew its stake 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 purchasing an additional 259 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBA has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Weiss Ratings raised Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Wall Street Zen raised Pembina Pipeline from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a research note on Tuesday. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and a consensus target price of $62.67.

Pembina Pipeline Trading Down 1.5%

NYSE:PBA opened at $47.55 on Thursday. The stock has a fifty day simple moving average of $45.46 and a 200 day simple moving average of $42.10. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 24.76 and a beta of 0.58. 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 1-year low of $35.45 and a 1-year high of $50.10.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.80 EPS. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.2%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.71. Pembina Pipeline's payout ratio is currently 108.33%.

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.

Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL.

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.