Pembina Pipeline (NYSE:PBA) Issues Quarterly Earnings Results

Pembina Pipeline (NYSE:PBA) (TSE:PPL) posted its quarterly earnings results on Thursday. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01), Zacks reports. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%.

Pembina Pipeline Stock Performance

NYSE:PBA traded down $0.04 during trading hours on Thursday, reaching $50.37. The company had a trading volume of 727,567 shares, compared to its average volume of 907,271. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. Pembina Pipeline has a 1-year low of $35.45 and a 1-year high of $51.58. The business’s 50 day moving average price is $48.39 and its 200-day moving average price is $45.41. The firm has a market cap of $29.29 billion, a PE ratio of 26.24 and a beta of 0.57.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.735 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a yield of 5.8%. Pembina Pipeline’s dividend payout ratio is presently 110.94%.

Hedge Funds Weigh In On Pembina Pipeline

Institutional investors have recently made changes to their positions in the company. FIL Ltd boosted its stake in shares of Pembina Pipeline by 2.6% during the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock worth $532,541,000 after acquiring an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Pembina Pipeline by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock valued at $375,236,000 after purchasing an additional 94,655 shares in the last quarter. Scotia Capital Inc. raised its holdings in Pembina Pipeline by 12.6% in the 3rd 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 during the period. Morgan Stanley boosted its position in Pembina Pipeline by 45.4% during the fourth quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock worth $179,763,000 after purchasing an additional 1,475,320 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Pembina Pipeline by 17.4% during the fourth quarter. Bank of Nova Scotia now owns 4,064,371 shares of the pipeline company’s stock worth $154,835,000 after purchasing an additional 603,350 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PBA. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 target price on shares of Pembina Pipeline in a report on Friday, July 3rd. Weiss Ratings raised shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.00.

About Pembina Pipeline

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.