DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 78.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858,478 shares of the pipeline company's stock after purchasing an additional 378,312 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.15% of Pembina Pipeline worth $31,721,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Pembina Pipeline during the fourth quarter worth approximately $171,860,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. grew its position in Pembina Pipeline by 338.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after acquiring an additional 995,735 shares during the last quarter. AGF Management Ltd. raised its position in Pembina Pipeline by 612.7% in the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock valued at $40,025,000 after purchasing an additional 929,206 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Pembina Pipeline by 30.4% in the 4th quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock valued at $133,449,000 after buying an additional 824,232 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.
Wall Street Analyst Weigh In
PBA has been the topic of several recent analyst reports. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.
Read Our Latest Stock Report on Pembina Pipeline
Pembina Pipeline Stock Up 0.2%
NYSE PBA traded up $0.08 during trading on Wednesday, reaching $37.26. 298,708 shares of the company's stock were exchanged, compared to its average volume of 1,262,944. The stock has a market cap of $21.64 billion, a P/E ratio of 15.40 and a beta of 0.81. Pembina Pipeline Co. has a 1 year low of $34.13 and a 1 year high of $43.44. The company has a 50 day moving average price of $38.35 and a two-hundred day moving average price of $38.37. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.
Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. Pembina Pipeline's revenue was up 48.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pembina Pipeline Co. will post 2.15 EPS for the current fiscal year.
Pembina Pipeline Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.5109 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Monday, June 16th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio is currently 89.14%.
Pembina Pipeline Company Profile
(
Free Report)
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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