Franklin Resources Inc. Increases Holdings in Pembina Pipeline Corp. $PBA

Franklin Resources Inc. boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 20.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,159,923 shares of the pipeline company’s stock after buying an additional 198,465 shares during the period. Franklin Resources Inc.’s holdings in Pembina Pipeline were worth $43,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Pembina Pipeline by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 26,114,982 shares of the pipeline company’s stock worth $980,539,000 after acquiring an additional 818,526 shares during the period. TD Asset Management Inc grew its holdings in shares of Pembina Pipeline by 5.0% in the second quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company’s stock valued at $273,494,000 after purchasing an additional 347,854 shares during the period. Goldman Sachs Group Inc. increased its position in Pembina Pipeline by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock worth $283,770,000 after purchasing an additional 3,108,920 shares during the last quarter. Scotia Capital Inc. raised its stake in Pembina Pipeline by 5.2% during the first quarter. Scotia Capital Inc. now owns 5,230,781 shares of the pipeline company’s stock worth $208,856,000 after purchasing an additional 260,804 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Pembina Pipeline by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,846,067 shares of the pipeline company’s stock valued at $185,024,000 after purchasing an additional 805,488 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Wednesday, November 19th. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Up 0.3%

Shares of NYSE PBA opened at $37.98 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $38.85 and its two-hundred day moving average is $37.89. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $42.40. The firm has a market cap of $22.07 billion, a price-to-earnings ratio of 17.83 and a beta of 0.75.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The firm had revenue of $911.47 million during the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a net margin of 23.24% and a return on equity of 12.27%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. Pembina Pipeline’s dividend payout ratio is 101.00%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.