The Manufacturers Life Insurance Company Purchases 1,784,451 Shares of Pembina Pipeline Corp. (PBA)

The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 133.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,121,883 shares of the pipeline company’s stock after purchasing an additional 1,784,451 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.77% of Pembina Pipeline Corp. worth $103,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in PBA. Van ECK Associates Corp grew its holdings in shares of Pembina Pipeline Corp. by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 3,405 shares of the pipeline company’s stock worth $108,000 after purchasing an additional 520 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Pembina Pipeline Corp. by 9.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,801 shares of the pipeline company’s stock worth $120,000 after purchasing an additional 335 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Pembina Pipeline Corp. during the 2nd quarter worth approximately $132,000. Pinebridge Investments L.P. acquired a new stake in shares of Pembina Pipeline Corp. during the 2nd quarter worth approximately $146,000. Finally, HPM Partners LLC grew its holdings in shares of Pembina Pipeline Corp. by 213.5% during the 2nd quarter. HPM Partners LLC now owns 71,821 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 48,910 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors.

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Several research firms recently commented on PBA. BidaskClub upgraded Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, July 21st. Finally, AltaCorp Capital upgraded Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.00.

Pembina Pipeline Corp. (PBA) traded down 0.21% during trading on Monday, hitting $33.93. The company had a trading volume of 54,936 shares. The company has a market capitalization of $13.67 billion, a price-to-earnings ratio of 32.22 and a beta of 0.73. Pembina Pipeline Corp. has a one year low of $27.44 and a one year high of $35.63. The stock has a 50-day moving average of $33.47 and a 200 day moving average of $32.87.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts forecast that Pembina Pipeline Corp. will post $1.27 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 25th will be given a dividend of $0.144 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.73 dividend on an annualized basis and a yield of 5.08%. This is an increase from Pembina Pipeline Corp.’s previous monthly dividend of $0.14. Pembina Pipeline Corp.’s dividend payout ratio is currently 168.04%.

About Pembina Pipeline Corp.

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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