Wellington Management Group LLP Invests $3.73 Million in Pembina Pipeline Corp. $PBA

Key Points

• Wellington Management acquired 80,758 shares of Pembina Pipeline during the second quarter, valued at approximately $3.73 million. Institutional investors now own 55.37% of the company.
• Analyst sentiment remains favorable, with five Buy ratings and four Hold ratings, producing a consensus “Moderate Buy” rating and a $64 target price.
• Pembina reported quarterly earnings of $0.48 per share, slightly below expectations, while revenue reached $1.07 billion. The company also declared a quarterly dividend of $0.735 per share, representing a 6.0% annualized yield.

Wellington Management Group LLP bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 80,758 shares of the pipeline company's stock, valued at approximately $3,735,000.

Other hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new stake in Pembina Pipeline in the 2nd quarter worth $257,000. Beacon Pointe Advisors LLC bought a new stake in shares of Pembina Pipeline in the second quarter valued at about $339,000. Glenview Trust Co bought a new stake in shares of Pembina Pipeline in the second quarter valued at about $1,283,000. Empowered Funds LLC bought a new stake in shares of Pembina Pipeline in the second quarter valued at about $1,249,000. Finally, Old North State Trust LLC acquired a new stake in Pembina Pipeline during the second quarter worth about $268,000. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the topic of several research reports. Scotiabank lowered Pembina Pipeline from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, July 20th. Weiss Ratings raised Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 3rd. TD Securities reissued a "buy" rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $49.24 on Thursday. The business has a 50 day simple moving average of $48.94 and a 200 day simple moving average of $46.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company has a market capitalization of $28.63 billion, a PE ratio of 24.14 and a beta of 0.58. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business's revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. On average, sell-side analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline's dividend payout ratio is presently 104.41%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a Canadian energy transportation and midstream services company headquartered in Calgary, Alberta. Founded in 1954, the company develops and operates infrastructure that transports and processes hydrocarbons produced primarily in Western Canada.

Pembina's operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and terminals for hydrocarbon liquids. Its infrastructure supports the movement of crude oil, condensate, natural gas, propane, butane and other natural gas liquids from producing regions to domestic and international markets.

The company also provides marketing, logistics and related midstream services and is pursuing opportunities tied to liquefied natural gas and other energy exports.

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