Canada Pension Plan Investment Board Takes $264.91 Million Position in Pembina Pipeline Corp. $PBA

Canada Pension Plan Investment Board bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,731,205 shares of the pipeline company’s stock, valued at approximately $264,907,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC acquired a new position in Pembina Pipeline in the 1st quarter valued at about $25,000. Tobam acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at $28,000. Dunhill Financial LLC purchased a new stake in Pembina Pipeline during the second quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline during the 2nd quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pembina Pipeline in the third quarter valued at $31,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 1.2%

Shares of NYSE PBA opened at $48.14 on Wednesday. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The firm’s 50 day moving average price is $48.47 and its 200 day moving average price is $46.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. The firm has a market cap of $27.99 billion, a P/E ratio of 23.60 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 EPS 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 analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned $0.65 EPS. Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is presently 104.41%.

Analyst Upgrades and Downgrades

PBA has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Weiss Ratings downgraded Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Finally, Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.