Pembina Pipeline Corp. $PBA Stock Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Pembina Pipeline stake by 4.4% in the third quarter to 2.53 million shares, while institutional investors collectively owned 55.37% of the company.
• Pembina shares rose 3.9% to $50.08, near the company’s 52-week high. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $64.00.
• The company paid a quarterly dividend of C$0.73 per share, equivalent to an annualized C$2.94 dividend and a 5.9% yield, although its payout ratio stood above 100%.

TD Waterhouse Canada Inc. boosted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,526,260 shares of the pipeline company's stock after purchasing an additional 106,462 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.43% of Pembina Pipeline worth $114,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management Inc. raised its holdings in shares of Pembina Pipeline by 102.4% in the 3rd quarter. Cardinal Capital Management Inc. now owns 7,356,398 shares of the pipeline company's stock worth $329,243,000 after acquiring an additional 3,721,819 shares during the last quarter. Triasima Portfolio Management inc. boosted its holdings in shares of Pembina Pipeline by 94.0% in the 3rd quarter. Triasima Portfolio Management inc. now owns 128,125 shares of the pipeline company's stock worth $5,733,000 after buying an additional 62,075 shares during the last quarter. Columbus Macro LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at approximately $7,848,000. Diversified Management Inc. bought a new position in Pembina Pipeline during the third quarter valued at $779,000. Finally, Versant Capital Management Inc increased its holdings in Pembina Pipeline by 23.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,187 shares of the pipeline company's stock worth $97,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Trading Up 3.9%

Shares of PBA traded up $1.89 during mid-day trading on Friday, hitting $50.08. 1,327,721 shares of the company's stock traded hands, compared to its average volume of 1,134,935. 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 1 year low of $36.20 and a 1 year high of $51.58. The firm has a market capitalization of $29.12 billion, a P/E ratio of 24.55 and a beta of 0.62. The business's 50-day moving average price is $47.68 and its 200-day moving average price is $47.30.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly 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 business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the business earned $0.65 EPS. The business's revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Pembina Pipeline Corp. will post 2.20 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of C$0.73 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 5.9%. Pembina Pipeline's payout ratio is currently 103.92%.

Analyst Ratings Changes

A number of research firms recently issued reports on PBA. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research note on Wednesday, October 7th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Pembina Pipeline in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. TD Securities reiterated a "buy" rating on shares of Pembina Pipeline in a report on Friday. Finally, Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a report on Wednesday. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline currently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

Pembina Pipeline Company 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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