Pembina Pipeline Corp. $PBA Stock: Triasima Portfolio Management inc. Grows Holdings

Key Points

• Triasima Portfolio Management increased its Pembina Pipeline stake by 94% in the third quarter to 128,125 shares valued at approximately $5.7 million. Institutional investors collectively own 55.37% of the company.
• Pembina Pipeline reported quarterly revenue of $1.07 billion and EPS of $0.48, slightly below analysts’ expectations; revenue nevertheless rose 20.1% year over year.
• The company’s quarterly dividend of C$0.73 implies an annualized yield of about 6.1%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $64, compared with a recent price of $48.23.

Triasima Portfolio Management inc. boosted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 94.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,125 shares of the pipeline company's stock after buying an additional 62,075 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Pembina Pipeline were worth $5,733,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in Pembina Pipeline during the 2nd quarter worth $285,738,000. Canada Pension Plan Investment Board acquired a new stake in Pembina Pipeline in the 2nd quarter valued at about $264,907,000. Deutsche Bank AG purchased a new position in Pembina Pipeline during the second quarter worth approximately $262,233,000. Legal & General Group Plc purchased a new position in shares of Pembina Pipeline during the 2nd quarter worth $199,230,000. Finally, Bank of Nova Scotia acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $174,133,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Down 0.6%

NYSE PBA opened at $48.23 on Friday. 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. The stock has a market capitalization of $28.05 billion, a PE ratio of 23.64 and a beta of 0.62. The firm has a 50 day moving average of $47.63 and a two-hundred day moving average of $47.28.

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). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The company's revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts expect that Pembina Pipeline Corp. will post 2.20 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm 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 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Pembina Pipeline's dividend payout ratio is 103.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings raised Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research report on Wednesday. BMO Capital Markets restated a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Finally, TD Securities reaffirmed a "buy" rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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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