Pembina Pipeline Corp. (NYSE:PBA) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Pembina Pipeline Corp by 2.4%, acquiring an additional 161,114 shares, bringing its total ownership to approximately 6.95 million shares valued at about $278 million.
• Pembina Pipeline has declared a quarterly dividend of $0.5109, which represents an annualized dividend of $2.04 and a dividend yield of 5.56%, up from its previous quarterly dividend.
• Analysts have mixed views on Pembina Pipeline's stock, with some upgrading their ratings and an average consensus rating of "Moderate Buy" at a target price of $56.00.

TD Asset Management Inc raised its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,950,836 shares of the pipeline company's stock after purchasing an additional 161,114 shares during the quarter. TD Asset Management Inc owned 1.20% of Pembina Pipeline worth $277,985,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PBA. Norges Bank purchased a new stake in Pembina Pipeline during the 4th quarter valued at about $171,860,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Pembina Pipeline by 1,591.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after buying an additional 2,968,994 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pembina Pipeline in the fourth quarter worth about $73,073,000. Mackenzie Financial Corp boosted its stake in shares of Pembina Pipeline by 10.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after buying an additional 1,331,294 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Pembina Pipeline by 30.4% in the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after buying an additional 824,232 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Shares of NYSE:PBA traded up $0.05 during midday trading on Wednesday, hitting $37.04. The company had a trading volume of 218,063 shares, compared to its average volume of 1,335,984. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.64 and a quick ratio of 0.52. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 16.74 and a beta of 0.76. The business's 50-day simple moving average is $37.28 and its 200-day simple moving average is $37.54.

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

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.5109 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 annualized dividend and a yield of 5.52%. Pembina Pipeline's dividend payout ratio (DPR) is 93.21%.

Analyst Ratings Changes

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

Pembina Pipeline 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.