Voloridge Investment Management LLC lifted its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 141.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 126,615 shares of the pipeline company’s stock after buying an additional 74,204 shares during the period. Voloridge Investment Management LLC’s holdings in Pembina Pipeline were worth $4,694,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in PBA. Cornerstone Advisors Inc. grew its position in Pembina Pipeline by 51.7% in the second quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 274 shares in the last quarter. Phocas Financial Corp. purchased a new stake in Pembina Pipeline during the second quarter valued at about $35,000. JNBA Financial Advisors boosted its position in Pembina Pipeline by 371.3% during the third quarter. JNBA Financial Advisors now owns 952 shares of the pipeline company’s stock valued at $35,000 after buying an additional 750 shares during the period. Aperio Group LLC purchased a new stake in Pembina Pipeline during the second quarter valued at about $41,000. Finally, HM Payson & Co. purchased a new stake in Pembina Pipeline during the second quarter valued at about $42,000. 53.26% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on PBA shares. Zacks Investment Research lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. ValuEngine upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group set a $58.00 price target on shares of Pembina Pipeline and gave the company a “buy” rating in a research report on Monday, October 21st. UBS Group initiated coverage on shares of Pembina Pipeline in a report on Monday, November 25th. They set a “neutral” rating and a $50.00 target price for the company. Finally, CIBC reiterated a “buy” rating on shares of Pembina Pipeline in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $49.33.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07. Pembina Pipeline had a net margin of 23.79% and a return on equity of 14.01%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. Pembina Pipeline’s revenue was down 16.9% on a year-over-year basis. Research analysts forecast that Pembina Pipeline Corp will post 2.07 earnings per share for the current fiscal year.
The firm also recently announced a nov 19 dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.20 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Friday, November 22nd. Pembina Pipeline’s dividend payout ratio is 102.82%.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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