UniSuper Management Pty Ltd Boosts Stake in Pembina Pipeline Corp. $PBA

Key Points

• UniSuper Management Pty Ltd increased its Pembina Pipeline stake by 71.2% in the fourth quarter, adding 623,758 shares to bring its total holdings to 1.5 million shares worth about $57.1 million.
• Pembina Pipeline reported better-than-expected quarterly earnings of $0.59 per share versus $0.52 expected, and revenue of $1.11 billion also topped estimates despite being down year over year.
• The company raised its quarterly dividend to $0.735 per share, implying a 6.0% annualized yield, while analysts currently view the stock as a Moderate Buy with a consensus price target of $62.67.

UniSuper Management Pty Ltd grew its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 71.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,500,100 shares of the pipeline company's stock after purchasing an additional 623,758 shares during the quarter. UniSuper Management Pty Ltd owned approximately 0.26% of Pembina Pipeline worth $57,094,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its stake in shares of Pembina Pipeline by 10.0% during the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company's stock worth $124,621,000 after purchasing an additional 298,412 shares during the period. Varma Mutual Pension Insurance Co lifted its stake in shares of Pembina Pipeline by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company's stock worth $12,528,000 after purchasing an additional 24,400 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Pembina Pipeline by 2.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company's stock worth $64,798,000 after purchasing an additional 40,944 shares during the period. Fiera Capital Corp lifted its stake in shares of Pembina Pipeline by 12.6% during the 3rd quarter. Fiera Capital Corp now owns 1,073,818 shares of the pipeline company's stock worth $43,402,000 after purchasing an additional 120,272 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Pembina Pipeline by 96.3% during the 3rd quarter. Citigroup Inc. now owns 216,975 shares of the pipeline company's stock worth $8,775,000 after purchasing an additional 106,419 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Trading Down 0.4%

PBA stock opened at $48.63 on Friday. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 25.33 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $46.18 and a 200-day simple moving average of $42.88. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $50.10.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business's revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.735 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 6.0%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.71. Pembina Pipeline's payout ratio is currently 108.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Weiss Ratings raised Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. Finally, Royal Bank Of Canada upped their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.67.

About Pembina Pipeline

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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