OMERS ADMINISTRATION Corp Takes $2.60 Million Position in Pembina Pipeline Corp. $PBA

OMERS ADMINISTRATION Corp purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 56,200 shares of the pipeline company’s stock, valued at approximately $2,599,000.

A number of other institutional investors have also recently bought and sold shares of PBA. AQR Capital Management LLC purchased a new stake in Pembina Pipeline during the first quarter valued at about $374,000. Focus Partners Wealth acquired a new stake in shares of Pembina Pipeline during the first quarter valued at approximately $312,000. Marshall Wace LLP purchased a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $253,000. Cresset Asset Management LLC lifted its position in shares of Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 534 shares in the last quarter. Finally, AXA S.A. boosted its stake in Pembina Pipeline by 17.5% in the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. 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. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Stock Performance

Shares of PBA opened at $48.14 on Wednesday. The company’s 50 day moving average price is $48.47 and its 200 day moving average price is $46.49. Pembina Pipeline Corp. has a 52 week low of $36.20 and a 52 week high of $51.58. The company has a market capitalization of $27.99 billion, a PE ratio of 23.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. Research analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

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

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.