Swiss National Bank Grows Position in Pembina Pipeline Corp. $PBA

Swiss National Bank boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,955,896 shares of the pipeline company’s stock after purchasing an additional 416,100 shares during the period. Swiss National Bank owned about 0.34% of Pembina Pipeline worth $87,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. increased its position in shares of Pembina Pipeline by 10.0% during the fourth quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock worth $124,621,000 after purchasing an additional 298,412 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in Pembina Pipeline by 2.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock valued at $64,798,000 after purchasing an additional 40,944 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares in the last quarter. K.J. Harrison & Partners Inc lifted its holdings in Pembina Pipeline by 27.3% in the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock valued at $7,919,000 after purchasing an additional 44,500 shares in the last quarter. Finally, TABR Capital Management LLC acquired a new stake in Pembina Pipeline during the 4th quarter worth $3,056,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 1.1%

Shares of NYSE:PBA opened at $50.73 on Tuesday. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $51.56. The firm’s 50 day moving average price is $48.08 and its 200 day moving average price is $44.68. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 26.42 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, equities research analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.735 per share. The ex-dividend date was Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 5.8%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 110.94%.

Analyst Ratings Changes

PBA has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Scotiabank downgraded Pembina Pipeline from an “outperform” rating to a “sector perform” rating in a research report on Monday. BMO Capital Markets reissued a “market perform” rating and set a $68.00 price objective on shares of Pembina Pipeline in a research note on Friday, July 3rd. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a report on Thursday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.00.

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.