Midwest Professional Planners LTD. Acquires 24,611 Shares of Pembina Pipeline Corp. $PBA

Midwest Professional Planners LTD. increased its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 102.5% during the second quarter, HoldingsChannel reports. The fund owned 48,619 shares of the pipeline company’s stock after buying an additional 24,611 shares during the period. Midwest Professional Planners LTD.’s holdings in Pembina Pipeline were worth $2,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd boosted its position in shares of Pembina Pipeline by 2.6% during the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock worth $532,541,000 after buying an additional 359,109 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after acquiring an additional 94,655 shares in the last quarter. CIBC Asset Management Inc raised its holdings 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 valued at $329,245,000 after purchasing an additional 1,304,227 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after purchasing an additional 717,773 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Pembina Pipeline during the second quarter worth $285,738,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

NYSE PBA opened at $49.04 on Wednesday. The firm has a 50-day moving average price of $48.68 and a two-hundred day moving average price of $46.69. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58. The company has a market capitalization of $28.52 billion, a P/E ratio of 24.04 and a beta of 0.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

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

Pembina Pipeline Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Weiss Ratings lowered Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada increased their price objective on 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 reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.