Pembina Pipeline Corp. $PBA Shares Newly Purchased by Columbus Macro LLC

Key Points

• Columbus Macro LLC purchased 176,054 Pembina Pipeline shares during the third quarter, valued at approximately $7.85 million. Institutional investors and hedge funds collectively own 55.37% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds producing a consensus rating of “Moderate Buy” and an average price target of $64.00.
• Pembina Pipeline shares recently traded at $48.52, while the company’s quarterly dividend implies an annualized payout of C$2.94 and a yield of about 6.1%. Its latest quarterly earnings slightly missed estimates, with revenue also below expectations.

Columbus Macro LLC bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 176,054 shares of the pipeline company's stock, valued at approximately $7,848,000.

Several other large investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new position in Pembina Pipeline in the second quarter valued at approximately $285,738,000. Canada Pension Plan Investment Board acquired a new stake in shares of Pembina Pipeline during the 2nd quarter worth approximately $264,907,000. Deutsche Bank AG acquired a new stake in shares of Pembina Pipeline during the 2nd quarter worth approximately $262,233,000. Legal & General Group Plc acquired a new stake in shares of Pembina Pipeline during the 2nd quarter worth approximately $199,230,000. Finally, Amundi increased its stake in shares of Pembina Pipeline by 15.2% in the 2nd quarter. Amundi now owns 3,892,496 shares of the pipeline company's stock valued at $180,028,000 after acquiring an additional 514,786 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Wednesday. Weiss Ratings upgraded shares of Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Scotiabank downgraded shares of Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Finally, TD Securities reiterated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Pembina Pipeline Stock Down 0.2%

NYSE:PBA traded down $0.08 on Wednesday, hitting $48.52. The stock had a trading volume of 761,939 shares, compared to its average volume of 1,259,077. The business's fifty day moving average is $47.60 and its 200 day moving average is $47.25. The company has a market cap of $28.22 billion, a PE ratio of 23.78 and a beta of 0.62. 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 52 week low of $36.20 and a 52 week high of $51.58.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced 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 firm 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 period last year, the business posted $0.65 EPS. On average, equities research analysts expect that Pembina Pipeline Corp. will post 2.20 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a C$0.73 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Tuesday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is currently 103.92%.

Pembina Pipeline Profile

Pembina Pipeline Corporation is a Canadian energy infrastructure company that provides transportation and midstream services for the oil, natural gas and natural gas liquids industries. Its operations are focused primarily on Western Canada, where it connects hydrocarbon-producing regions with processing facilities, storage sites, refineries, petrochemical markets and export channels.

The company owns and operates an extensive network of pipelines and related infrastructure. Its services include hydrocarbon gathering and transportation, natural gas processing, fractionation and storage of natural gas liquids, terminalling and rail services.

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