TD Waterhouse Canada Inc. Has $110.96 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• TD Waterhouse Canada reduced its Pembina Pipeline stake by 2% in the second quarter, selling 49,699 shares but retaining 2.42 million shares valued at approximately $110.96 million. Institutional investors and hedge funds collectively own 55.37% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $64 price target. Five analysts rate the stock a Buy, while four rate it a Hold.
• Pembina reported quarterly EPS of $0.48, slightly below expectations, while revenue reached $1.07 billion and rose 20.1% year over year. The company declared a quarterly dividend of $0.735 per share, equivalent to a 6.0% annualized yield.

TD Waterhouse Canada Inc. trimmed its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,419,798 shares of the pipeline company's stock after selling 49,699 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.42% of Pembina Pipeline worth $110,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Western Wealth Management LLC acquired a new stake in shares of Pembina Pipeline during the 1st quarter worth about $25,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $31,000. Tobam bought a new position in Pembina Pipeline in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Pembina Pipeline in the 3rd quarter valued at about $31,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PBA has been the subject of a number of research analyst reports. TD Securities restated a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Royal Bank Of Canada lifted their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Scotiabank downgraded Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Pembina Pipeline has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $48.64 on Friday. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The company has a 50-day simple moving average of $48.75 and a two-hundred day simple moving average of $46.75. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 23.84 and a beta of 0.58.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (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 for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business's revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. Pembina Pipeline's dividend payout ratio is currently 104.41%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation NYSE: PBA is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company's asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.

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