Miller Howard Investments Inc. NY Purchases 45,567 Shares of Pembina Pipeline Corp. $PBA

Miller Howard Investments Inc. NY raised its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 567,713 shares of the pipeline company’s stock after purchasing an additional 45,567 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Pembina Pipeline were worth $25,411,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PBA. Empowered Funds LLC increased its position in shares of Pembina Pipeline by 1.0% in the fourth quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock valued at $931,000 after acquiring an additional 248 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 259 shares during the period. Ethic Inc. boosted its holdings in shares of Pembina Pipeline by 2.0% during the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock worth $539,000 after purchasing an additional 278 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Pembina Pipeline by 3.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock worth $372,000 after purchasing an additional 341 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Pembina Pipeline by 1.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,014 shares of the pipeline company’s stock worth $800,000 after purchasing an additional 386 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $47.15 on Wednesday. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $50.10. The stock has a market capitalization of $27.41 billion, a P/E ratio of 24.56 and a beta of 0.57. The company’s 50-day moving average is $46.57 and its 200 day moving average is $43.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.80 earnings per share. On average, sell-side analysts expect that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Monday, June 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. boosted their target price on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, March 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Pembina Pipeline in a research note on Tuesday, June 16th. Finally, Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and an average target price of $62.67.

About Pembina Pipeline

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.