Scotia Capital Inc. Boosts Stock Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Scotia Capital Inc. increased its holdings in Pembina Pipeline Corp. by 5.2%, owning over 5.2 million shares after acquiring an additional 260,804 shares in the first quarter.
• Several institutional investors also made significant changes to their positions, with First Horizon Advisors Inc. increasing its stake by 69.9% in the same period.
• Pembina Pipeline recently raised its quarterly dividend from $0.48 to $0.5109 per share, resulting in an annualized yield of 5.5%.

Scotia Capital Inc. grew its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,230,781 shares of the pipeline company's stock after buying an additional 260,804 shares during the period. Pembina Pipeline makes up 1.1% of Scotia Capital Inc.'s portfolio, making the stock its 27th largest holding. Scotia Capital Inc. owned approximately 0.90% of Pembina Pipeline worth $208,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after buying an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Pembina Pipeline in the 1st quarter worth $27,000. Dunhill Financial LLC grew its stake in shares of Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after buying an additional 675 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after buying an additional 467 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after buying an additional 793 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PBA. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Price Performance

PBA stock opened at $37.19 on Friday. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $37.27 and a 200 day moving average price of $37.55. The stock has a market cap of $21.60 billion, a PE ratio of 16.83 and a beta of 0.78.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $0.73 EPS. The firm's revenue for the quarter was up 48.2% on a year-over-year basis. Equities research analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.5109 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, June 16th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio (DPR) is 93.67%.

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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