Glenview Trust Co Takes $1.28 Million Position in Pembina Pipeline Corp. $PBA

Glenview Trust Co bought a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, Holdings Channel.com reports. The fund bought 27,750 shares of the pipeline company’s stock, valued at approximately $1,283,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in Pembina Pipeline in the 1st quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in Pembina Pipeline in the second quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline in the second quarter valued at approximately $31,000. Tobam acquired a new position in Pembina Pipeline during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Pembina Pipeline during the third quarter worth approximately $31,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PBA. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Finally, Weiss Ratings downgraded Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Stock Down 0.8%

PBA stock opened at $47.99 on Friday. The company has a market capitalization of $27.91 billion, a P/E ratio of 23.52 and a beta of 0.57. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58. The firm has a 50 day simple moving average of $48.59 and a 200-day simple moving average of $46.59.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities research analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued 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 yield of 6.1%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 104.41%.

Pembina Pipeline Profile

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.