K.J. Harrison & Partners Inc Has $7.26 Million Stock Position in Pembina Pipeline Corp. $PBA

K.J. Harrison & Partners Inc lowered its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,606 shares of the pipeline company’s stock after selling 44,954 shares during the quarter. Pembina Pipeline makes up 1.2% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 16th largest holding. K.J. Harrison & Partners Inc’s holdings in Pembina Pipeline were worth $7,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PBA. Norges Bank acquired a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $213,701,000. BCV Asset Management Inc. purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at $61,412,000. Morgan Stanley lifted its holdings in shares of Pembina Pipeline by 45.4% in the fourth quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after purchasing an additional 1,475,320 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Pembina Pipeline in the second quarter worth $52,514,000. Finally, CIBC Asset Management Inc boosted its position in shares of Pembina Pipeline by 17.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after buying an additional 1,304,227 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

NYSE PBA opened at $46.40 on Friday. The firm has a market cap of $26.98 billion, a P/E ratio of 24.17 and a beta of 0.57. The stock’s 50-day moving average is $47.14 and its two-hundred day moving average is $43.73. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10. 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 results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business posted $0.80 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts anticipate that Pembina Pipeline Corp. will post 2.28 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 6.3%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

Wall Street Analyst Weigh In

PBA has been the topic of several recent analyst reports. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings restated a “buy (b)” rating on shares of Pembina Pipeline in a research report on Tuesday, June 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 target price on shares of Pembina Pipeline in a report on Friday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Friday. Finally, Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.00.

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.