First Trust Direct Indexing L.P. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

First Trust Direct Indexing L.P. grew its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,194 shares of the pipeline company’s stock after buying an additional 1,315 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Pembina Pipeline were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PBA. Vanguard Group Inc. boosted its stake in Pembina Pipeline by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock valued at $637,949,000 after purchasing an additional 351,266 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Pembina Pipeline by 3.1% during the third quarter. Bank of Nova Scotia now owns 14,665,584 shares of the pipeline company’s stock valued at $440,966,000 after buying an additional 445,262 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Pembina Pipeline by 1.0% during the third quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock valued at $402,538,000 after buying an additional 131,487 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Pembina Pipeline by 5.7% in the 4th quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock worth $435,812,000 after buying an additional 680,945 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in Pembina Pipeline by 8.3% in the 3rd quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after buying an additional 593,061 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBA. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. CIBC raised their target price on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a report on Friday, April 19th. Finally, StockNews.com upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $35.51 on Friday. The firm’s 50 day moving average price is $35.16 and its 200-day moving average price is $33.90. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $20.58 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 5.28 and a beta of 1.20. Pembina Pipeline Co. has a twelve month low of $28.15 and a twelve month high of $36.17.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.34. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. Equities research analysts expect that Pembina Pipeline Co. will post 2.24 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.4944 per share. This represents a $1.98 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is currently 89.14%.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.