135,551 Shares in Pembina Pipeline Corp. $PBA Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, HoldingsChannel.com reports. The fund purchased 135,551 shares of the pipeline company’s stock, valued at approximately $6,260,000. Pembina Pipeline comprises about 0.9% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of PBA. Western Wealth Management LLC purchased a new position in shares of Pembina Pipeline during the 1st quarter worth $25,000. Tobam acquired a new position in shares of Pembina Pipeline in the 4th quarter valued at about $28,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline during the second quarter valued at approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline during the 2nd quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline during the third quarter worth about $31,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

PBA has been the subject of a number of recent analyst reports. Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Royal Bank Of Canada lifted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Finally, Weiss Ratings upgraded shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $48.69 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $48.39 and its two-hundred day moving average price is $46.20. Pembina Pipeline Corp. has a 52 week low of $36.20 and a 52 week high of $51.58. The stock has a market cap of $28.31 billion, a PE ratio of 23.87 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. Pembina Pipeline’s dividend payout ratio is currently 104.41%.

Pembina Pipeline 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.