Hillsdale Investment Management Inc. Has $2.57 Million Stake in Pembina Pipeline Co. (NYSE:PBA)

Hillsdale Investment Management Inc. raised its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 13,721.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 72,702 shares of the pipeline company’s stock after purchasing an additional 72,176 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Pembina Pipeline were worth $2,567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Pembina Pipeline by 1.7% during the third quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock worth $637,949,000 after buying an additional 351,266 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Pembina Pipeline by 15.9% during the fourth quarter. Gulf International Bank UK Ltd now owns 3,999 shares of the pipeline company’s stock worth $137,000 after acquiring an additional 550 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Pembina Pipeline by 4.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,080 shares of the pipeline company’s stock worth $1,104,000 after acquiring an additional 1,231 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Pembina Pipeline by 3.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 15,872 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 547 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Pembina Pipeline by 5.6% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,425,805 shares of the pipeline company’s stock worth $49,076,000 after acquiring an additional 75,803 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Pembina Pipeline Stock Up 0.7 %

Pembina Pipeline stock traded up $0.27 during mid-day trading on Monday, reaching $38.16. The company’s stock had a trading volume of 876,809 shares, compared to its average volume of 1,102,055. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 5.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. The business’s 50 day simple moving average is $37.04 and its 200 day simple moving average is $35.60. Pembina Pipeline Co. has a 12 month low of $28.15 and a 12 month high of $38.27.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 9th. The pipeline company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. As a group, research analysts anticipate that Pembina Pipeline Co. will post 2.36 earnings per share 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 paid a $0.501 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.00 dividend on an annualized basis and a yield of 5.25%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. Pembina Pipeline’s dividend payout ratio (DPR) is currently 87.83%.

Pembina Pipeline Company Profile

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.