Ontario Teachers Pension Plan Board Takes Position in Pembina Pipeline Corp. $PBA

Ontario Teachers Pension Plan Board acquired a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,292,937 shares of the pipeline company’s stock, valued at approximately $105,984,000. Pembina Pipeline comprises about 0.7% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its stake in Pembina Pipeline by 2.2% during the second 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. Vanguard Group Inc. grew its stake in shares of Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after buying an additional 541,615 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of Pembina Pipeline by 27.3% in the fourth quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock valued at $7,919,000 after buying an additional 44,500 shares in the last quarter. Nicola Wealth Management LTD. raised its holdings in shares of Pembina Pipeline by 28.0% in the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after buying an additional 216,300 shares during the period. Finally, Intact Investment Management Inc. raised its holdings in shares of Pembina Pipeline by 4.9% in the 4th quarter. Intact Investment Management Inc. now owns 2,170,014 shares of the pipeline company’s stock valued at $82,668,000 after buying an additional 101,390 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 1.4%

Shares of NYSE PBA opened at $49.35 on Wednesday. The business has a 50-day moving average of $48.41 and a two-hundred day moving average of $46.25. The company has a market capitalization of $28.70 billion, a price-to-earnings ratio of 24.19 and a beta of 0.57. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. 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 (NYSE:PBA) (TSE:PPL) last released 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 quarter in the previous year, the company posted $0.65 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is 102.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays restated 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 research note on Thursday, July 16th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Royal Bank Of Canada raised their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.