Intech Investment Management LLC Takes Position in Pembina Pipeline Co. (NYSE:PBA)

Intech Investment Management LLC bought a new stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,261 shares of the pipeline company’s stock, valued at approximately $1,387,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 21,592,770 shares of the pipeline company’s stock worth $743,223,000 after purchasing an additional 370,234 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of Pembina Pipeline by 1.2% in the fourth quarter. Bank of Nova Scotia now owns 14,837,544 shares of the pipeline company’s stock worth $510,857,000 after purchasing an additional 171,960 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock worth $435,812,000 after purchasing an additional 680,945 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Pembina Pipeline by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,062,012 shares of the pipeline company’s stock worth $209,376,000 after purchasing an additional 433,212 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Pembina Pipeline by 1.8% in the fourth quarter. TD Asset Management Inc now owns 4,712,969 shares of the pipeline company’s stock worth $163,056,000 after purchasing an additional 82,852 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PBA shares. StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. CIBC increased their target price on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a report on Friday, April 19th. Finally, Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.00.

Pembina Pipeline Stock Up 0.2 %

Shares of PBA stock traded up $0.06 during mid-day trading on Friday, hitting $37.89. 725,297 shares of the stock traded hands, compared to its average volume of 1,176,347. The stock has a market cap of $21.97 billion, a P/E ratio of 16.47, a P/E/G ratio of 5.34 and a beta of 1.25. The stock’s fifty day moving average is $37.01 and its two-hundred day moving average is $35.56. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $38.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.03 and a quick ratio of 0.93.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 9th. The pipeline company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. Equities analysts predict that Pembina Pipeline Co. will post 2.36 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.501 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.29%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, June 17th. Pembina Pipeline’s dividend payout ratio is presently 87.83%.

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.