Pembina Pipeline Corp. (NYSE:PBA) Declares Quarterly Dividend of $0.71

Key Points

• Pembina Pipeline Corp. announced a quarterly dividend of $0.71 per share, marking a significant 39.0% increase from the previous $0.51 dividend.
• The company has a dividend payout ratio of 91.2%, indicating potential concerns about future earnings coverage for its dividend commitment.
• Pembina Pipeline's stock experienced a slight increase of 0.2% during trading, with a current market capitalization of $21.44 billion.

Pembina Pipeline Corp. (NYSE:PBA - Get Free Report) TSE: PPL announced a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Monday, September 15th will be given a dividend of 0.71 per share by the pipeline company on Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 7.7%. This is a 39.0% increase from Pembina Pipeline's previous quarterly dividend of $0.51.

Pembina Pipeline has a dividend payout ratio of 91.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Pembina Pipeline to earn $2.23 per share next year, which means the company should continue to be able to cover its $2.07 annual dividend with an expected future payout ratio of 92.8%.

Pembina Pipeline Stock Up 0.2%

Pembina Pipeline stock traded up $0.08 during mid-day trading on Thursday, hitting $36.91. The company had a trading volume of 1,072,646 shares, compared to its average volume of 1,327,751. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average price is $37.25 and its two-hundred day moving average price is $37.54. Pembina Pipeline has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a market capitalization of $21.44 billion, a PE ratio of 16.70 and a beta of 0.78.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, topping 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The company's revenue for the quarter was up 48.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pembina Pipeline will post 2.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Pembina Pipeline by 1.6% in the first quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company's stock worth $1,011,833,000 after purchasing an additional 409,379 shares during the last quarter. Deutsche Bank AG increased its position in Pembina Pipeline by 3.0% during the fourth quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company's stock valued at $526,451,000 after acquiring an additional 413,373 shares during the last quarter. Mackenzie Financial Corp increased its position in Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after acquiring an additional 1,331,294 shares during the last quarter. TD Asset Management Inc increased its position in Pembina Pipeline by 5.0% during the second quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company's stock valued at $273,494,000 after acquiring an additional 347,854 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Pembina Pipeline by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock valued at $283,770,000 after acquiring an additional 3,108,920 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

About Pembina Pipeline

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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