MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd Acquires 769,436 Shares of Pembina Pipeline Corp. $PBA

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the third quarter, Holdings Channel reports. The institutional investor bought 769,436 shares of the pipeline company’s stock, valued at approximately $34,301,000. Pembina Pipeline comprises 4.4% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings, making the stock its 5th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in shares of Pembina Pipeline during the second quarter valued at about $3,735,000. Cardinal Capital Management Inc. boosted its position in shares of Pembina Pipeline by 2.2% during the 2nd quarter. Cardinal Capital Management Inc. now owns 3,634,579 shares of the pipeline company’s stock worth $167,835,000 after purchasing an additional 79,578 shares in the last quarter. NEOS Investment Management LLC grew its stake in shares of Pembina Pipeline by 7.4% in the 2nd quarter. NEOS Investment Management LLC now owns 653,163 shares of the pipeline company’s stock valued at $30,210,000 after buying an additional 45,253 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Pembina Pipeline in the 2nd quarter valued at about $174,133,000. Finally, Midwest Professional Planners LTD. increased its position in Pembina Pipeline by 102.5% in the 2nd quarter. Midwest Professional Planners LTD. now owns 48,619 shares of the pipeline company’s stock valued at $2,249,000 after buying an additional 24,611 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

PBA has been the topic of a number of research reports. Canadian Imperial Bank of Commerce downgraded Pembina Pipeline from an “outperform” rating to a “hold” rating in a research note on Thursday, October 22nd. Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Wednesday, October 7th. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a research report on Friday, October 16th. Finally, Weiss Ratings lowered Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 22nd. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Trading Up 0.1%

PBA opened at $49.98 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. Pembina Pipeline Corp. has a fifty-two week low of $36.20 and a fifty-two week high of $51.58. The firm has a market capitalization of $29.07 billion, a PE ratio of 24.50 and a beta of 0.62. The company’s 50-day moving average is $47.89 and its 200 day moving average is $46.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $1.07 billion for 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%. Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.19 earnings per share for the current fiscal year.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1954, the company owns and operates pipelines and related facilities that transport and process hydrocarbon products, primarily in Western Canada.

Pembina’s operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and infrastructure for moving natural gas liquids such as propane, butane and ethane.