582,753 Shares in Pembina Pipeline Corp. $PBA Acquired by Purpose Unlimited Inc.

Purpose Unlimited Inc. acquired a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 582,753 shares of the pipeline company’s stock, valued at approximately $22,201,000. Pembina Pipeline comprises approximately 1.0% of Purpose Unlimited Inc.’s investment portfolio, making the stock its 23rd biggest holding. Purpose Unlimited Inc. owned about 0.10% of Pembina Pipeline at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Pembina Pipeline in the first quarter valued at about $374,000. Focus Partners Wealth acquired a new position in Pembina Pipeline during the first quarter worth about $312,000. Marshall Wace LLP purchased a new stake in Pembina Pipeline during the 2nd quarter valued at about $253,000. Cresset Asset Management LLC grew its stake in Pembina Pipeline by 4.1% during the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 534 shares in the last quarter. Finally, AXA S.A. grew its stake in Pembina Pipeline by 17.5% during the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock valued at $878,000 after acquiring an additional 3,488 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBA. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada increased their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

Pembina Pipeline Trading Up 0.1%

Shares of PBA opened at $46.20 on Friday. Pembina Pipeline Corp. has a 12-month low of $35.45 and a 12-month high of $50.10. The firm has a market capitalization of $26.86 billion, a P/E ratio of 24.06 and a beta of 0.57. The firm has a 50-day moving average price of $46.48 and a 200 day moving average price of $43.21. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. Pembina Pipeline’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. Sell-side analysts forecast that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.4%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s payout ratio is 110.94%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.